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Chu Kong Shipping to Form JV for Port Logistics Business in China's Shaoguan City
CHU KONG SHIP (00560.HK) has established a joint venture with Baowu Group Central South Steel to jointly invest in the construction and Operation of Longtouzhai Wharf.
On March 3, Gelonghui reported that CHU KONG SHIP (00560.HK) announced that on March 3, 2025, the company signed a joint venture agreement with its partner Baowu Group South China Steel Co., Ltd. According to the terms of the joint venture agreement, the registered capital of the joint venture company is 0.34 billion yuan. The parties agree to establish a joint venture company primarily to invest and develop the Longtouzhai Wharf in Shaoguan City to engage in comprehensive Logistics business focusing on the transportation and wharf handling of iron ore, Steel, and construction materials. The proposed name of the joint venture company is Shaoguan Longtou Port Service Co., Ltd., but it must wait for approval from the relevant Chinese government agencies before it can be used.
Express News | Chu Kong Shipping Enterprises - Formation of Joint Venture With Registered Capital of RMB340.0 Mln
CHU KONG SHIP (00560.HK) will hold a Board of Directors meeting on March 25 to consider and approve the annual performance.
On February 25th, GELONGHUI reported that CHU KONG SHIP (00560.HK) announced that a Board of Directors meeting is scheduled to be held on March 25, 2025 (Tuesday) at 11:00 AM at the 26th floor of CHU KONG SHIP Building, 143 Connaught Road Central, Hong Kong. The agenda includes: (1) considering and approving the audited consolidated financial statements, Directors' report, Auditor's report, and the annual performance announcement for the year ending December 31, 2024 for the company and its subsidiaries; and (2) proposing to pay a final dividend for the year from January 1, 2024, to December 31, 2024 (if any).
Chu Kong Shipping Enterprises to Acquire 51% Stake in Kaiping City Industrial Investment Freight
chu kong ship (00560.HK) subsidiary capital increase to invest in Kaiping City Gongtou Freight Port Limited for the construction of Sanbu New Port.
Geelong October 15th, Chu Kong Ship (00560.HK) announced that the company had previously issued a voluntary announcement regarding the expropriation of land for the Sanbu Port, the investment and construction of the Sanbu New Port project, and the public bidding results. Following the successful bid in the public bidding, on October 15, 2024, the company's non-wholly-owned subsidiary Chu Kong Inland River (as the subscriber) entered into a capital increase and equity agreement with the existing shareholders and the target company (i.e. Kaiping Gitic Logistics Port Limited). Therefore, Chu Kong Inland River agreed to subscribe and the existing shareholders of the target company as well as the target company agreed to issue the subscription shares, at a price of approximately 1.1 billion yuan.