SINGAMAS CONT (00716) plans to sell 50.68% of the registered capital of Shengshi Logistics for 36.32 million yuan.

SINGAMAS CONT(00716) announced that on August 10, 2026 (after trading hours), the company entered into an agreement with SeaTrans Logistics, under which the company agrees to sell and SeaTrans Logistics agrees to acquire the sales rights (specifically, 50.68% of the registered capital of Shengshi Logistics, beneficially owned and registered in the company's name immediately before the completion of the transaction), for approximately RMB 36.32 million. Additionally, SeaTrans Logistics agrees to inject new funds into Shengshi Logistics amounting to approximately RMB 16.7 million. Upon completion of the transaction, the company will hold a 40% equity stake in Shengshi Logistics, which will no longer be a subsidiary of the company but will become an associated company. The financial performance of Shengshi Logistics will no longer be consolidated into the group's financial statements. As a long-term joint venture partner of the group, SeaTrans Logistics possesses rich industry knowledge, operational expertise, and an established business network, which is expected to help enhance the future development and performance of Shengshi Logistics. The sale will enable the management to focus on the strategic priorities and key growth plans of the group while retaining a minority interest in Shengshi Logistics and continuing to participate in its future growth and value creation.