SINGAMAS CONT (00716) has announced a transaction with SITC Logistics, under which it will sell a 50.68% equity interest in its logistics subsidiary for approximately RMB 36.32 million. The deal, which took place on August 10, 2026 after the trading session, involves the transfer of shares that were beneficially owned and registered in the company's name immediately prior to completion.

As part of the agreement, SITC Logistics will also inject approximately RMB 16.70 million in new capital into the logistics unit. Following the completion of the transaction, SINGAMAS CONT will retain a 40% stake in the logistics company, which will no longer be classified as a subsidiary but as an associate. Consequently, the financial results of the logistics unit will no longer be consolidated into the group's financial statements.

SITC Logistics, a long-term joint venture partner of the group, brings extensive industry knowledge, operational expertise, and a mature business network. These attributes are expected to enhance the future development and performance of the logistics company. The sale will enable management to focus on the group's strategic priorities and key growth initiatives while maintaining a minority interest in the logistics unit, allowing continued participation in its future growth and value creation.