Core Viewpoint - The introduction of Xiamen COSCO Shipping as a strategic investor will enhance the comprehensive competitiveness of Xiaomo International Logistics Port [1] Group 1: Investment and Capital Structure - Shenzhen Yantian Port Co., Ltd. announced the introduction of Xiamen COSCO Shipping as a strategic investor through a non-public capital increase [1] - The registered capital of Shen-Shan Port Investment Co., Ltd. will increase from 52,931 million to 66,163.75 million, with Xiamen COSCO Shipping holding 20% of the shares post-investment [4] - Yantian Port's subsidiary will reduce its stake from 100% to 80%, while still maintaining control over Shen-Shan Port Investment Co., Ltd. [4] Group 2: Strategic Implications - The capital increase is expected to optimize the asset-liability structure and reduce liquidity risks for Yantian Port [7] - The investment will enhance the integrated operational capabilities of "shipping + port + logistics" and improve service quality [7] - The collaboration aims to establish a benchmark for port operations in the Deep-Shan Special Cooperation Zone and enhance the service level of the port industry chain [7] Group 3: Industry Context - Xiamen COSCO Shipping is the only secondary shipping enterprise of COSCO Shipping Group in the Straits West Economic Zone, focusing on passenger and cargo transport in the Taiwan Strait [7] - The company aims to build a specialized industrial investment platform and support the construction of a more resilient global shipping logistics ecosystem [7]

Transaction Overview - Shenzhen Yantian Port Co., Ltd. announced the introduction of strategic investor COSCO Shipping (Xiamen) Co., Ltd. through a non-public capital increase in Guangdong Yantian Port Shenshan Port Investment Co., Ltd. [1][2] - The registered capital of Shenshan Port Investment Co. will increase from 52,931 million RMB to 66,163.75 million RMB, with COSCO Shipping acquiring a 20% stake [1][2][3] - The existing shareholder, Yantian Port Operation Co., Ltd., will reduce its stake from 100% to 80% but will remain the controlling shareholder [1][2] Strategic Importance - The investment aims to enhance the integrated operational capabilities of "shipping + port + logistics" and position Xiaomo International Logistics Port as a key gateway in the Guangdong-Hong Kong-Macao Greater Bay Area [1][13] - The partnership with COSCO Shipping is expected to optimize resource integration, improve service quality, and enhance market competitiveness [13] Financial and Operational Impact - The capital increase is anticipated to optimize the asset-liability structure and reduce liquidity risks, thereby improving the overall operational efficiency of the project [13][14] - The funds raised will be utilized for the second phase of Xiaomo Port's construction and normal operational expenses [12][13] Corporate Governance - The transaction does not constitute a related party transaction or a major asset restructuring as per relevant regulations [2][3] - COSCO Shipping will have the right to nominate one director and one deputy general manager in the Shenshan Port Investment Co. [9] Company Background - COSCO Shipping (Xiamen) Co., Ltd. is a wholly-owned subsidiary of China COSCO Shipping Corporation, established in 1993, with a registered capital of 1.29 billion RMB [4][5] - Guangdong Yantian Port Shenshan Port Investment Co., Ltd. was established in 2015, with a focus on the investment, construction, and operation of Xiaomo International Logistics Port [6][7]

Core Viewpoint - Yantian Port announced a strategic investment by COSCO Shipping (Xiamen) Co., Ltd. to enhance the operational capabilities of the Xiaomo International Logistics Port, aiming to establish it as a key gateway in the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 1: Investment and Capital Structure - The investment is facilitated through a non-public agreement, with COSCO Xiamen contributing 132 million RMB to increase the registered capital of Shenshan Port Investment Company from 529 million RMB to 662 million RMB [1] - Following the investment, COSCO Xiamen will hold a 20% stake in Shenshan Port Investment Company, while Yantian Port's subsidiary, Yantian Port Operation Company, will see its ownership reduced from 100% to 80% [1] - Despite the dilution of ownership, Shenshan Port Investment Company remains a subsidiary of Yantian Port Operation Company, and the consolidation scope of financial statements will remain unchanged [1]

Core Viewpoint - Yantian Port (000088.SZ) announced a strategic investment by COSCO Shipping (Xiamen) Co., Ltd. to enhance the integrated operation capabilities of the Xiaomo International Logistics Port, aiming to establish it as a gateway port in the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 1 - Yantian Port's wholly-owned subsidiary, Shenzhen Yantian Port Operation Co., Ltd., is responsible for the investment, construction, and operation of Xiaomo International Logistics Port [1] - COSCO Shipping (Xiamen) Co., Ltd. will invest an additional registered capital of 132.3275 million yuan, increasing the total registered capital of the investment company from 529.31 million yuan to 661.6375 million yuan [1] - Following the investment, COSCO Shipping will hold a 20% stake in the investment company, while the holding company’s ownership will decrease from 100% to 80% [1]

Core Viewpoint - Yantian Port (000088.SZ) announced a strategic investment by COSCO Shipping (Xiamen) Co., Ltd. to enhance the integrated operation capabilities of the Xiaomo International Logistics Port, aiming to establish it as a gateway port in the Guangdong-Hong Kong-Macao Greater Bay Area [1] Group 1 - Yantian Port's wholly-owned subsidiary, Shenzhen Yantian Port Operation Co., Ltd., is responsible for the investment, construction, and operation of Xiaomo International Logistics Port [1] - COSCO Shipping (Xiamen) Co., Ltd. will invest an additional registered capital of 132.3275 million yuan, increasing the total registered capital of the investment company from 529.31 million yuan to 661.6375 million yuan [1] - Following the investment, COSCO Shipping will hold a 20% stake in the investment company, while the holding ratio of the existing shareholder, Yantian Port Operation Co., Ltd., will decrease from 100% to 80% [1]