Core Viewpoint - Lanhua Kecai plans to acquire a 62% stake in Shandong Jiaxiang Yilong Port Co., Ltd. for 148.8 million yuan, aiming to gain control over a key logistics node in the coal transportation network in China [1][2]. Group 1: Acquisition Details - The acquisition was approved by Lanhua Kecai's board and does not require shareholder approval [2]. - Jiaxiang Port, established in July 2024, has a registered capital of 523.2433 million yuan and is the first integrated port in Shandong province for rail-water intermodal transport [2]. - The port has nine 1,000-ton berths, a total shoreline length of 2,050 meters, and a designed annual throughput capacity of 10.6 million tons [2][3]. Group 2: Financial Performance - Jiaxiang Port reported a revenue of 89.6721 million yuan and a net loss of 17.7399 million yuan in 2024, with a revenue of 21.507 million yuan and a net loss of 25.2612 million yuan in the first two months of 2025 [2][3]. - As of February 28, 2025, Jiaxiang Port's total assets were valued at 47.5725 million yuan, with a net asset value of 25.03304 million yuan [3]. Group 3: Strategic Importance - The acquisition allows Lanhua Kecai to quickly enter the inland shipping and logistics sector, leveraging existing port facilities and transportation networks to expand its market share in coal and other bulk commodity logistics [1][4]. - Lanhua Kecai aims to diversify its business and reduce reliance on a single sector, enhancing its overall risk resilience [6].