Weihai Port was allocated to Qingdao Port Group gratis

Shandong Port Integration, which has been brewing for a long time, has finally taken a key step. On the evening of July 9, 2019, Qingdao Port (601298) announced that Qingdao SASAC, controlling shareholder Qingdao Port Group, Weihai SAC and Weihai Port Group signed the Agreement on the Free Transfer of State-owned Property Rights, and that 100% of Weihai Port's equity was transferred to Qingdao Port Group free of charge. After the transfer is completed, Qingdao Port Group will become the sole shareholder of Weihai Port. Weihai Port is located at the eastern end of Shandong Peninsula in China, and is located in the center of Northeast Asia. It is adjacent to Japan, Korea and Korea in the east. It is a convenient outlet from Shandong Peninsula to Korea, Korea, Japan and other East Asian countries. Where to go.

Weihai Port's main business is handling and supporting services, logistics and value-added services of containers, metal ore, coal and other goods; Qingdao Port's main business is handling and supporting services of containers, metal ore, coal, crude oil and other goods, logistics and port value-added services, port supporting services, financial services. Business and so on, there is a certain degree of competition between the two in the main business. However, Weihai Port is smaller than Qingdao Port, and its cargo handling capacity is relatively limited, so the competition between the two ports in the main business is limited. At present, Weihai Port has an annual throughput of 45 million tons, with a total owner's equity of about 1.9 billion yuan belonging to the parent company. In 2018, Qingdao Port completed cargo throughput of about 500 million tons and container throughput of 18.55 million TEU. The total owner's equity of the parent company is about 29.6 billion yuan, and the distance between the two ports is about 200 nautical miles. In fact, there has been cooperation between Qingdao Port and Weihai Port. In 2005, Weihai Qingwei Container Terminal Co., Ltd. was formally established with a registered capital of 140 million yuan. The company was established by a joint venture between Weihai Port and Qingdao Port. Weihai Port holds 51% of the shares and Qingdao Port holds 49% of the shares. This is also the first successful implementation of strategic cooperation between the two ports in Shandong Province.

In June 2017, the website of the State-owned Assets Management Commission of Shandong Province published a news from the State-owned Assets Management Commission of Weihai City that Weihai Port Stock Company has completed capital increase and equity expansion, and introduced 423 million yuan of investment from Beijing Guoxin Credit Investment Management Company to start the main board listing. Nowadays, for the sake of the integration of Shandong port industry, the listing of Weihai Port is terminated. The port has always been called the "barometer" of economic development. Shandong has a large total economy and relatively balanced cities. Shandong's port throughput ranks second in the country. It is the only province in the country with three ports with throughput exceeding 300 million tons, namely, Qingdao Port, Rizhao Port and Yantai Port. In addition, Shandong also has many ports, such as Weihai Port, Weifang Port and Dongying Port. However, the business homogeneity between them is serious and the competition is disorderly. Many years ago, Shandong government had planned to integrate, but it was frustrated by various difficulties. At the "Two Sessions" of Shandong Province in 2018, Gong Zheng, the governor of Shandong Province, once again put forward the strategy of "a strong province in the sea", brewing and integrating coastal port resources, planning to promote the construction of Qingdao Port, Bohai Bay Port, Yantai Port and Rizhao Port, and timely set up Shandong Port Investment Holding Group Company. Now, under the strategy of "one belt and one road" and the strategy of "strong ocean province", the consolidation of Shandong port has finally started.