Tianjin Port Holdings has agreed the financial terms for its proposed acquisition of two terminal operators from Tianjin Port Group.
The transaction covers Tianjin Port Second Container Terminal Co. and Tianjin Port Huisheng Terminal Co. The two businesses operate container, general cargo and bulk facilities at the Port of Tianjin.
Tianjin Port Holdings will acquire the entire equity interest in both companies. The total consideration has been set at RMB6.22 billion.
The company will complete the Tianjin Port acquisition entirely through the issuance of new shares. No cash payment or additional financing will be required.
Tianjin Port Holdings will issue 1,344,215,896 shares to Tianjin Port Group. The agreed issue price is RMB4.63 per share, up from the preliminary price of RMB4.36.
The transaction value reflects independent valuations dated 13 October 2026.
Tianjin Port Second Container Terminal provides container handling, storage, inspection and ship shore-power services.
The company operates under a “Smart+Green” model focused on efficient and lower-carbon terminal operations. According to the announcement, its facilities can support round-the-clock operations involving the world’s largest container vessels.
The container terminal reported revenue of RMB469.48 million for the first half of 2026. Its net profit after tax reached RMB186.27 million during the same period.
Huisheng Terminal handles general and bulk cargo. Its facilities include two 100,000-tonne-class berths and two 150,000-tonne-class berths.
Tianjin Port Development Holdings currently owns 56.81% of Tianjin Port Holdings indirectly. Following the share issuance, that interest is expected to decline to 38.79%.
However, Tianjin Port Development expects to retain control through an acting-in-concert agreement involving Grand Point Investment and Tianjin Port Group. Therefore, Tianjin Port Holdings would remain its subsidiary.
Once completed, the two acquired terminal companies would become wholly owned subsidiaries of Tianjin Port Holdings. Their accounts would also be consolidated into the wider group’s financial statements.
The transaction qualifies as a very substantial acquisition, very substantial disposal and connected transaction under Hong Kong listing rules.
It remains subject to several conditions. These include regulatory registration, state-owned asset approvals and approval from independent shareholders at an extraordinary general meeting.
Tianjin Port Development expects to issue a shareholder circular containing further transaction details by 25 November 2026.
The company warned that the conditions may not be satisfied. Therefore, the proposed Tianjin Port acquisition may or may not proceed.
