Qingdao Port International has approved a bid of at least RMB1.92bn (about US$288m) for the 70% of Qingdao Port Dongjiakou Ore Terminal it does not already own, the Shanghai- and Hong Kong-listed company said in an exchange filing dated 10 November 2026.
Why Qingdao Port International Co., Ltd. is buying Qingdao Port Dongjiakou Ore Terminal Co., Ltd. (70%)
Qingdao Port said the terminal has four large ore berths with annual capacity of more than 100m tonnes and about 2.4m square metres of storage yards. Part of the north shore of its Qianwan port area is being redeveloped, and Dongjiakou will gradually take over Qianwan's dry bulk business. Full ownership would strengthen its control of bulk cargo operations and decision-making, the company said.
Deal terms and financing
China Merchants Port's Guanxing Investment, COSCO Shipping Ports' Shanghai investment arm and Wanbang Qingdao Port Investment are selling their 25%, 25% and 20% stakes as a single bundle on the Beijing Equity Exchange, with a combined reserve price of RMB1,917.69m. Qingdao Port would pay from its own funds. The terminal reported 2025 revenue of RMB1.81bn and a net loss of RMB110.5m, which the filing attributed mainly to asset write-offs from yard upgrades.
Regulatory approvals and timing
The deal is a connected transaction because Shanghai COSCO Shipping Ports Investment is a related party. It requires approval by Qingdao Port shareholders, with related shareholders abstaining, and merger-control review, and depends on Qingdao Port winning the exchange process.
Market context
COSCO Shipping Ports and China Merchants Port announced in October that they would sell their Dongjiakou stakes through a public listing that closed on 11 November.
