Tianjin Port Development (03382) announced that its subsidiary, Logistics Development, intends to sell its 60% stake in China Railway Storage and Transport through a public listing on the Tianjin Property Rights Exchange. The minimum listing price is set at RMB 22.5243 million. The final transaction amount will depend on the winning bidder's offer.

Upon completion of the potential sale, the company will no longer hold any equity in China Railway Storage and Transport, which will cease to be a subsidiary. China Railway Storage and Transport primarily engages in the sales of various types of coal.

The proposed divestment allows the group to focus on its core businesses, directing management resources and operational priorities toward key areas such as port handling and logistics. This move aims to enhance the core competitiveness and operational efficiency of its main businesses, supporting the group's goal of building a world-class green, smart, and hub port. It also strengthens long-term competitiveness and profitability, aligning with the group's overall development strategy and the interests of the company and its shareholders.