Sinotrans to Form Hungarian Warehouse Joint Venture with China Merchants Associate

Sinotrans ( (HK:0598) ) has shared an announcement.

Sinotrans’ Hong Kong subsidiary SINOTRANS HK has agreed to form a joint venture in Hungary with CNDI Hungary, an associate of ultimate controlling shareholder China Merchants, to acquire a Hungarian warehouse, underscoring the group’s continued expansion of its European logistics footprint. The joint venture will have registered capital of EUR10,000, with CNDI Hungary holding 60% and SINOTRANS HK 40%, and a maximum capital commitment of about EUR49.8 million, of which SINOTRANS HK plans to contribute up to roughly EUR19.9 million from its own funds; the venture will not be consolidated into Sinotrans’ financial statements and, as a connected transaction under Hong Kong listing rules, it will be subject to reporting, announcement and annual review requirements but will not require independent shareholders’ approval.

The most recent analyst rating on (HK:0598) stock is a Hold with a HK$5.00 price target. To see the full list of analyst forecasts on Sinotrans stock, see the HK:0598 Stock Forecast page.

More about Sinotrans

Sinotrans Limited is a PRC-incorporated logistics company listed in Hong Kong that operates through subsidiaries such as SINOTRANS HK, focusing on international freight forwarding, warehousing and related logistics services across global markets.

Average Trading Volume: 5,657,055

Technical Sentiment Signal: Buy

Current Market Cap: HK$43.74B

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