NBD AI Bulletin，Sinotrans Limited (the Company, SH 601598, closing price: 3.34 yuan) announced on the evening of June 10, 2020 the Company received a notice from China Merchants Group, that China Merchants Group on May 28 increased its holding of the Company's H-shares through its subsidiary Sinotrans Shipping Co., Ltd., and will continue to take the form of secondary market bidding transactions through Sinotrans Shipping Co., Ltd. to increase holding of the Company's H-shares in the next six months from May 28, 2020, based on a reasonable judgment of the value of the Company's H-shares and on the basis of the volatility of the Company's stock prices and the overall trend of the capital market. The total amount (including the increased shares as of May 28, 2020) does not exceed 4% of the Company's H-shares (approximately 85.8 million, or about 1.16% of the company's total issued share capital) prior to the increase.
Between May 28, 2020 and June 10, 2020, Sinotrans Shipping Co., Ltd. has increased its holding of about 47.72 million shares of the Company's H-shares through the form of a bidding transaction in the secondary market, with a cumulative increase amounting to about HKD 80.96 million, and the cumulative increase has reached half of the upper limit of the increase plan, accounting for about 0.64% of the Company's total share capital. China Merchants Group and person acting in concert hold about 4,172 million shares of the Company, accounting for about 56.38% of the Company's total share capital.
According to the 2019 annual report, Sinotrans Limited's main business is the logistics industry, accounting for 99.28% of revenue.
The Chairman of Sinotrans Limited is Li Guanpeng, male, aged 54, who graduated from Sun Yat-sen University with a bachelor's degree in language and literature (English) . The general manager of Sinotrans Limited is Song Wei, a 48-year-old man who graduated from the University of International Business and Economics with a bachelor's degree in economics and received MBA from the Olin Business School at the University of Washington.
(By Li Menglin)
Disclaimer: This article is for informational purposes only and does Not constitute investment advice. Please verify before use. Any action you take upon the information on this website is at your own risk.