Liaoning Port Co., Ltd. reported further progress in the bankruptcy liquidation of former wholly owned subsidiary DCT Logistics Co., Ltd. The Dalian Economic and Technological Development Zone People’s Court accepted the liquidation petition on 16 December 2025 and appointed Dalian Wanlong Tianxin Certified Public Accountants Co., Ltd. as bankruptcy administrator.

The administrator now controls DCT Logistics’ assets, financial records, operations and all ongoing litigation. As a result, DCT Logistics has been deconsolidated from Liaoning Port’s financial statements.

The first creditors’ meeting will be held onsite on 22 June 2026. Convened by the court and the administrator, the agenda includes verification of filed claims, a report on the debtor’s assets and operations, and deliberation on subsequent bankruptcy matters.

Key procedural milestones already completed include the transfer of assets, records and legal affairs to the administrator. Comprehensive asset inventory, financial audits and valuations are underway, while all related litigation and enforcement cases are being processed under unified management.

Liaoning Port bears no joint and several liability for DCT Logistics’ debts. Management expects no material adverse effect on the group’s current or future operating results or financial position from the subsidiary’s liquidation.

The company cautions that uncertainties remain regarding claim confirmation, asset disposal and eventual distributions. Further disclosures will be made in accordance with regulatory requirements as the process advances.