Dalian Port plans to absorb Yingkou Port

On the evening of June 19, Dalian Port (601880.SH) and Yingkou Port (600317.SH) both issued announcements to plan a trading suspension for major asset restructuring.

On the evening of June 19, Dalian Port (601880.SH) and Yingkou Port (600317.SH) both issued announcements to plan a trading suspension for major asset restructuring.

It is reported that the reason for the suspension is that Dalian Port will merge Yingkou Port.

Information shows that Dalian Port was established on November 16, 2005, and its listing time was December 6, 2010. Its controlling shareholder is Dalian Port Group Co., Ltd., with a shareholding ratio of 41.18%. In fact, the controlling party is China Merchants Group Co., Ltd.

Yingkou Port was established on March 22, 2000, and its listing time was January 31, 2002. The controlling shareholder was Yingkou Port Group Co., Ltd., with a shareholding ratio of 78.29%. In fact, the controller is also China Merchants Group.

The data shows that Dalian Port’s operating income and net profit in 2019 were 6.646 billion yuan and 718 million yuan, respectively, and 1.503 billion yuan and 182 million yuan in the first quarter of 2020.

In contrast, the revenue of Yingkou Port is not as large as that of Dalian Port, but its net profit exceeds that of Dalian Port. The operating income and net profit of Yingkou Port in 2019 were 4.768 billion yuan and 1.012 billion yuan, respectively, and they were 1.149 billion yuan and 292 million yuan in the first quarter of 2020.

On October 1, 2019, Dalian Port and Yingkou Port issued announcements at the same time on changes of actual controllers. The actual controllers of both companies were changed from Liaoning State-owned Assets Supervision and Administration Commission to China Merchants.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/22/dalian-port-plans-to-absorb-yingkou-port/.

Leave a Reply

Please Login to Comment