Tianjin Port Acquires Cranes in Strategic Deal

Tianjin Port Development Holdings (HK:3382) has released an update.

Tianjin Port Development Holdings’ subsidiary, Yuanhang International Co, has entered into a connected transaction to acquire four portal cranes from Jinan Heavy Equipment Co for RMB71.9 million. This strategic purchase, determined through a competitive bidding process, underscores the company’s commitment to enhancing its operational capabilities. The transaction, while significant, remains under specific reporting guidelines, exempting it from broader shareholder approval.

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