YANCHENG PORT (08310) Transfers Shares Worth HK$233 Million, Representing 57.46% of Total, Moving 740 Million Shares from KINGSTON Securities

Stock News
Jul 29

Data from the Hong Kong Stock Exchange shows that on July 28, a significant position change occurred for YANCHENG PORT (08310), with a total transfer value of HK$233 million, accounting for 57.46% of the company's shares. The company's shareholder transferred 740 million shares to Huatai Hong Kong, while simultaneously moving 740 million shares out of KINGSTON Securities.

On July 28, YANCHENG PORT issued an announcement. Based on available information and a preliminary assessment of the group's unaudited consolidated management accounts for the six months ending June 30, 2026 (the reporting period), the company expects to record a loss of approximately HK$7.9 million for the period. This represents a reduction of about 70.6% compared to the loss of approximately HK$26.9 million recorded in the six months ending June 30, 2025 (the prior corresponding period). The loss is primarily attributed to: (i) growth in the scale of the trading business and a significant improvement in profit margins; (ii) an increase in revenue from the petrochemical products warehousing business segment, while costs and expenses remained stable; and (iii) a disposal gain from completing the sale of a subsidiary during the reporting period.

For the reporting period, the company expects to record revenue of approximately HK$640 million, an increase of about 24.3% compared to the revenue of approximately HK$515 million recorded in the prior corresponding period. The increase in revenue is primarily driven by the expansion of the trading business and steady growth in petrochemical storage income.

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