Sinochem International to Strip Two Chemical Logistics Assets to Focus on Main Business


Sinochem International announced on the evening of October 9 that the company intends to transfer its 44.8% equity in Sinochem Xingzhong with RMB 875 million to a subsidiary of its controlling shareholder Sinochem Group. The transaction promises to increase the company's current-period net profit by RMB 49 million. In addition, Sinochem International also plans to transfer 100% equity of Sinochem Logistics, and the proposed reserve price remains to be evaluated. The transaction of these two chemical logistics assets is expected to help the company focus more on its fine chemical business.

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