China Master Logistics Co., Ltd. made an offer to acquire Sinochem Tianjin Binhai Logistic Corp. for CNY 170 million.
September 02, 2020
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China Master Logistics Co., Ltd. (SHSE:603967) made an offer to acquire Sinochem Tianjin Binhai Logistic Corp. on August 12, 2020. China Master Logistics Co., Ltd. (SHSE:603967) won a bid to acquire Sinochem Tianjin Binhai Logistic Corp. for approximately CNY 170 million on September 1,2020. As of December 31, 2019, had total assets of CNY 95.1 million, net assets of of CNY 90.2 million, operating loss of CNY 11.7 million, operating revenue of CNY 5.1 million, and net loss of CNY 12.5 million. The Board of Directors of China Master Logistics Co., Ltd. reviewed and approved the transaction.
China Master Logistics Co., Ltd. is a China-based company mainly engaged in comprehensive modern logistics business. The Company's main business can be divided into five segments: Freight Forwarder segment, Site segment, Shipping Agency segment, Coastal Transportation segment and Project Large-Scale Logistics segment. Freight Forwarder mainly provides services such as booking agents and signing agents to customers after purchasing transportation capacity from ship operators. Site segment mainly includes services related to container repair, inspection and empty container storage. Shipping Agency segment mainly includes boarding agents and cabin agency business. Coastal Transportation segment mainly includes foreign trade internal feeder container business, domestic trade container business and bulk cargo business. Project Large-Scale Logistics segment mainly provides high-tech and difficult comprehensive logistics solutions for individualized and professional logistics needs.