Cathay Pacific Group (603977.SH) subsidiary plans to publicly list and transfer 45% of Hongtai Logistics's shares

According to the Zhitong Finance App, Cathay Pacific Group (603977.SH) announced that Jiangxi Henghe Investment and Development Co., Ltd., a wholly-owned subsidiary of the company, plans to transfer 45% of its shares in Jiangxi Hongtai Logistics Co., Ltd. (“Hongtai Logistics” for short) through a public listing on the Jiangxi Property Exchange. The reserve price for this public listing transfer is 173 million yuan. After the share transfer was completed, the company no longer held shares in Hongtai Logistics.

Currently, the business correlation between the corridor logistics and transportation business carried out by Hongtai Logistics is relatively weak with the “two masters and one cultivation” industry development pattern of civilian explosion integration, new military materials, rail transit automation, and informatization that the company has established. This public listing transfer of Hongtai Logistics shares is conducive to further focusing on the main business, optimizing the company's asset structure, and improving the efficiency of state-owned capital allocation. It is in line with the overall needs of the company's business development. The company's overall profitability and operating results are expected to be further improved.