Xiamen International Port Co., Ltd., New World (Xiamen) Port Investments Limited, Xiamen ITG Group Corp., Ltd., Xiamen Port Holding Group Co., Ltd, Xiamen Xiangyu Logistics Group Co., Ltd., Xiamen Port Logistics Co., Ltd. and Pointer Investment (H.K.) Ltd. agreed to acquire 15.35% stake in Xiamen Songyu Container Terminal Co.,Ltd from Xiamen Port Holding Group Co., Ltd for approximately CNY 260 million in cash on February 25, 2013. As per the terms of the deal, Xiamen International Port Co., Ltd., New World (Xiamen) Port Investments Limited, Xiamen ITG Group Corp., Ltd., Xiamen Port Holding Group Co., Ltd, Xiamen Xiangyu Logistics Group Co., Ltd., Xiamen Port Logistics Co., Ltd. and Pointer Investment (H.K.) Ltd. will form a joint venture company and within 30 days after the establishment of the joint venture company, 15.35% stake in Xiamen Songyu Container Terminal will be acquired. In related deals, Xiamen Port Holding Group Co., Ltd, Xiamen Xiangyu Logistics Group Co., Ltd., Xiamen International Trade Group Corp., Ltd. (SHSE:600755), New World (Xiamen) Port Investments Limited, Xiamen International Port Co., Ltd. (SEHK:3378), Pointer Investment (H.K.) Ltd., Xiamen Port Logistics Co., Ltd. signed an agreement to acquire Xiamen Haicang Port Company Limited from Xiamen International Trade Group Corp., Ltd. (SHSE:600755) and Xiamen International Port Co., Ltd. (SEHK:3378) on February 25, 2013 and Xiamen International Trade Group Corp., New World (Xiamen) Port Investments Limited, Xiamen Xiangyu Logistics Group Co., Ltd., Xiamen Port Holding Group Co., Ltd, Xiamen International Port Co., Ltd., Xiamen Port Logistics Co., Ltd. and Pointer Investment (H.K.) Ltd. will also acquire Xiamen ITG Terminals Co., Ltd., Xiamen Port Group Haitian Container Terminals Co., Ltd. and Xiamen New World Xiangyu Terminals Co., Ltd.

The deal will be funded by internal resources or bank financing. Xiamen Songyu Container Terminal Co.,Ltd. had total assets of CNY 2.54 billion, revenues of CNY 210.97 million, operating income of CNY 46.64 million, profit before tax of CNY 2.11 million, profit after tax of CNY 2.11 million, net assets of CNY 1.72 billion and net debt of CNY 730.12 million for the year ended December 31, 2012. A special committee will be established to make recommendations. As on May 6, 2013, the Board of Directors of Xiamen International Port Co. recommended the shareholders to approve the transaction. The shareholders of Xiamen International Port Co. have approved the transaction on July 8, 2013. First Shanghai Capital Limited acted as financial advisor, PricewaterhouseCoopers acted as an accountant, Savills Valuation and Professional Services Limited acted as independent property valuer, Zhongtongcheng Asset Valuation Co., Ltd. acted as professional valuer, Beijing Global Law Office acted as legal advisor, CASH Financial Services Group Ltd. acted as financial advisor and Computershare Hong Kong Investor Services Limited acted as registrar for Xiamen International Port Co.

Xiamen International Port Co., Ltd., New World (Xiamen) Port Investments Limited, Xiamen ITG Group Corp., Ltd., Xiamen Port Holding Group Co., Ltd, Xiamen Xiangyu Logistics Group Co., Ltd., Xiamen Port Logistics Co., Ltd. and Pointer Investment (H.K.) Ltd. completed the acquisition of 15.35% stake in Xiamen Songyu Container Terminal Co.,Ltd from Xiamen Port Holding Group Co., Ltd on January 24, 2014.