Sinotrans (00598) announced that on January 29, 2026, its subsidiary, Sinotrans Hong Kong, entered into a joint venture agreement with Nanshan Hungary to jointly invest in establishing a joint venture company in Hungary. The primary purpose of this joint venture is to acquire a warehouse located in Hungary. According to the joint venture agreement, the registered capital of the joint venture company is 10,000 euros (equivalent to RMB 83,349), with Sinotrans Hong Kong and Nanshan Hungary contributing 4,000 euros (equivalent to RMB 33,339.60) and 6,000 euros (equivalent to RMB 50,009.40) respectively. This investment grants them 40% and 60% equity stakes in the joint venture company. The joint venture will not become a subsidiary of Sinotrans, and its financial results will not be consolidated into the company's accounts.
Based on the investment plans of the joint venture company, the contracting parties have committed to a maximum capital contribution of approximately 49.8321 million euros (equivalent to approximately RMB 415 million), which will be funded by the parties according to their respective proportions. Specifically, Sinotrans Hong Kong intends to contribute no more than approximately 19.9329 million euros (equivalent to approximately RMB 166 million) using its own funds. The main objective of establishing the joint venture company is to acquire a specific warehouse in Hungary. This warehouse is situated in the northeastern part of Budapest and offers a total leasable area of approximately 46,125 square meters, which includes roughly 43,483 square meters of storage space and about 2,642 square meters of office space.
As of the date of this announcement, the occupancy rate for this Hungarian warehouse stands at 100%. Its tenant base includes internationally renowned automobile manufacturers, component suppliers, logistics service providers, and local Hungarian electronics distributors. The announcement stated that entering into the joint venture agreement aligns with the company's strategy for overseas investment布局. As a member of the European Union, Hungary serves as one of the most critical bridges for trade between China and Europe. Securing core logistics resources in Hungary will help the Group further strengthen its layout of key node resources in Europe.
This move provides support for building an overseas resource guarantee system characterized by "通道+枢纽+网络" (channels + hubs + networks) and is conducive to the Group's efforts to expand its base of incremental overseas customers. Furthermore, Nanshan Group's business spans comprehensive logistics, integrated industrial and urban development, asset management and finance, new energy, and manufacturing sectors. It is vigorously advancing its international development strategy and accelerating the布局 of overseas warehouses. The group currently manages nearly 1 million square meters of leasable overseas warehouse assets across Hungary, Slovakia, Poland, Germany, and the Czech Republic, supported by localized operational management teams and strategic investment experience.
This transaction allows both parties to fully leverage their respective advantages. By using global logistics operations to guide the布局 of logistics assets, and empowering logistics business operations through logistics asset management, the transaction will further enhance the Group's capabilities in providing comprehensive logistics solutions and its core competitiveness.