COSCO SHIPPING International (Hong Kong) Co (HK:0517) has released an update.
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COSCO SHIPPING International (Hong Kong) Co., Ltd. has announced the voluntary liquidation of its non-wholly owned subsidiary, COSCO Kansai Paint & Chemicals (Tianjin) Co., Ltd., to optimize asset structure and market competitiveness in coatings production. The liquidation is expected to have no material adverse impact on the group’s financials, and the business will be absorbed by other subsidiaries. Shareholders are advised to exercise caution when dealing with the company’s securities.
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