Liaoning Port (02880) announced that it has completed the accounting deconsolidation of its wholly-owned subsidiary DCT Logistics Co., Ltd. following a court-mandated bankruptcy handover.

On 23 March 2026, the Dalian Economic and Technological Development Zone People’s Court appointed Dalian Wanlong Tianxin Certified Public Accountants as bankruptcy administrator of DCT Logistics. All operational management, asset disposal, and pending litigations of the subsidiary have been transferred to the administrator.

With control relinquished, DCT Logistics has been removed from Liaoning Port’s consolidated financial statements. An estimated debt provision of RMB180.00 million had already been booked as at 31 December 2021, alongside full impairment of the subsidiary’s equity and goodwill. Management expects no material impact on current or future profits, and the deconsolidation does not affect the group’s core port operations.

DCT Logistics is a separate legal entity; Liaoning Port and its other subsidiaries have not provided guarantees and therefore bear no joint liability for the subsidiary’s debts. The administrator will independently pursue all remaining litigation and enforcement actions.

Liaoning Port will continue to track the liquidation process, apply appropriate accounting treatment, and disclose material developments in accordance with Chinese bankruptcy law, the Accounting Standards for Business Enterprises, and exchange rules. Investors are advised to monitor subsequent announcements for updates on the liquidation outcome.