COSCO SHIPPING Energy Transportation announced that its wholly-owned subsidiary, COSCO SHIPPING Tanker (Dalian), sold its 70% stake in Shenzhen COSCO Longpeng Liquefied Natural Gas Transportation with COSCO SHIPPING Investment Dalian for RMB 7.74555 million on June 12.
 
After the above equity transfer is completed, COSCO SHIPPING Tanker (Dalian) will no longer hold 70% equity of Longpeng Company, 60% equity of Electronics Company, 57.5% equity of Xiyun Company and 15% equity of Daren Company.
 
Therefore, the Group will confirm the total loss of about 21,168,800 yuan from the sale of part of the company's equity and part of its assets held by COSCO SHIPPING Tanker (Dalian).
 
The equity to be transferred this time involves LPG transportation, ship navigation, automation equipment supply and maintenance, and ferry business, all of which are outside the scope of the company's main business.
 
This equity and asset transfer will help the company clean up its non-main business, focus on the oil and gas transportation sector, and optimize the asset structure.
 
Source: Sarah Yu, XINDE MARINE NEWS

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