Core Viewpoint - Zhongtong Express announced the acquisition of Zhejiang Xinglian Aviation Cargo Co., Ltd. for 178 million RMB to enhance its logistics capabilities and overall competitiveness in the air freight sector [1] Group 1: Acquisition Details - Zhongtong Aviation signed a share transfer agreement on November 28, acquiring 100% of Zhejiang Xinglian for a total payment of 178 million RMB, with an initial payment of 100 million RMB and a final payment of 78 million RMB to be made within 10 and 15 business days after certain conditions are met [1] - Zhejiang Xinglian, established in 2018 with a registered capital of 160 million RMB, specializes in air cargo services [1] Group 2: Strategic Implications - The acquisition is expected to enhance Zhongtong's end-to-end domestic and international air logistics capabilities [1] - The stable operations and profitability of Zhejiang Xinglian are anticipated to contribute positively to Zhongtong's performance and increase shareholder returns [1]
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