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Tianjin Port Development Holdings ( (HK:3382) ) has issued an announcement.
Tianjin Port Development Holdings, via its subsidiary Pacific International Co, has entered into two connected renovation agreements with Jinan Heavy Equipment Co, a fellow subsidiary of its controlling shareholder Tianjin Port Group, to upgrade quay crane systems at its terminals. The RMB4.73 million contract covers the supply and installation of 38 automatic lubrication systems for quay cranes, while a separate RMB6.99 million contract will upgrade the cranes’ electrical control systems, both awarded through open bidding; the transactions are classified as connected under Hong Kong listing rules but fall below the threshold requiring independent shareholder approval, signalling ongoing, regulated capital investment in automation and operational efficiency that reinforces the company’s infrastructure and may improve productivity for port users and other stakeholders.
The most recent analyst rating on (HK:3382) stock is a Buy with a HK$1.00 price target. To see the full list of analyst forecasts on Tianjin Port Development Holdings stock, see the HK:3382 Stock Forecast page.
More about Tianjin Port Development Holdings
Tianjin Port Development Holdings is a port operator focused on container and cargo handling and related port services, with operations linked to Tianjin Port Group, its controlling shareholder. Through subsidiaries such as Pacific International Co, the group invests in and upgrades port equipment and systems to enhance terminal efficiency and service capability in the competitive Chinese port and logistics market.
Average Trading Volume: 1,455,898
Technical Sentiment Signal: Buy
Current Market Cap: HK$4.12B
For a thorough assessment of 3382 stock, go to TipRanks’ Stock Analysis page.