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The latest announcement is out from Chu Kong Shipping Enterprises (Group) Co. Ltd. ( (HK:0560) ).
Chu Kong Shipping Enterprises (Group) Co. Ltd. has announced the formation of a joint venture with an independent third party to develop the Longtouzhai Port in Shaoguan City. The joint venture, named Shaoguan City Longtou Port Co., Ltd., will focus on comprehensive logistics services such as transportation and wharf handling of iron ore, steel, and mining construction materials. The registered capital for the joint venture is RMB340,000,000, with Chu Kong Shipping contributing RMB166,600,000 for a 49% stake. This strategic move is expected to enhance the company’s logistics capabilities and strengthen its market position in the logistics industry.
More about Chu Kong Shipping Enterprises (Group) Co. Ltd.
YTD Price Performance: 4.55%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €110.7M
For an in-depth examination of 0560 stock, go to TipRanks’ Stock Analysis page.