Hong Kong Group consolidates billions of assets along the Yangtze River

Hong Kong Group (600018) June 1 announced that the establishment of the Yangtze River Port Logistics Limited (Changjiang Company), as its 18 companies along the Yangtze River near 10 billion yuan assets of the integration platform. These 18 companies covered the port group in the Yangtze River Basin fleet, port terminals, logistics parks, warehouses and other resources, including the size of the fleet of nearly 100 vessels, container ship capacity of the domestic ranking fifth, operating routes covering the entire Yangtze River basin, and the world's major shipping companies to maintain long-term cooperative relations　　Operating port resources, including the Yangtze River Valley Chongqing, Wuhan, Jiujiang, Nanjing, Jiangyin, Changsha, Yibin and other major ports, and in some ports set up a large logistics park and warehouses. A large proportion of these resources have come through joint ventures since the Hong Kong group launched its "Yangtze strategy" in 2002. August 2003, Shanghai Port and Wuhan Port cooperation, equity participation 40% in Wuhan Port Container Co., Ltd., May 2004, Shanghai Port Alliance Wuhu Port, 2005, Shanghai Port successively with Chongqing Port, Nanjing Port, Nantong Port Alliance. 2008, the Hong Kong group invested in Yibin, Chongqing two port container terminals.　　In September 2009, the Shang Hong Kong Group gained a 20% stake in Chongqing Minsheng Steamer, further increasing the discourse power in the field of shipping logistics. Through this series of acquisitions, the Hong Kong group in the Yangtze River "Golden Waterway" the distribution of the basic completion. Previously, the 18 companies were operating independently, without synergy.　　The establishment of the Yangtze River Company means that the Hong Kong group began to carry out substantial integration of its assets along the Yangtze River. "Mr Chen, president of the Hong Kong group, said that the" Yangtze River Strategy "is one of the company's three major strategies, through the Yangtze River Company to integrate key strategic resources to form a" point and line of the basic framework of integration. "　　The Yangtze River Company will fully rely on the Shanghai parent-port resources, with shipping as the main line, logistics as the support, the dock as the basis for the construction of the Yangtze River Valley Rapid Logistics channel to provide customers with integrated logistics services. He said, "At present, the company's management rights and business relations into the Yangtze River Company, future assets and equity will gradually be included." ”