Xingtong Co., Ltd. plans to increase its capital by 100 million yuan to purchase a 25,900 DWT stainless steel chemical tanker to expand international shipping capacity.

Log in to the Sina Finance APP and search for [Disclosure] to view more evaluation levels.

[Shanghai, March 20, 2026] Xingtong Marine Co., Ltd. (stock code: 603209, hereinafter referred to as “Xingtong Co.”) announced today that the company plans to increase capital by 100 million RMB to its controlling subsidiary, which will be fully used to purchase a 25,900DWT stainless steel chemical tanker under construction, in order to further expand the scale of the international chemical transportation fleet and enhance market competitiveness.

Overview of the Transaction Plan

According to the announcement, Xingtong Co. will increase capital in proportion with the minority shareholder of its controlling subsidiary Shanghai Xingtong Chainfa Shipping Co., Ltd. (hereinafter referred to as “Shanghai Xingtong Chainfa”), Xiamen Jianfa Supply Chain Logistics Technology Co., Ltd. (hereinafter referred to as “Jianfa Supply Chain Logistics Technology”). The total amount of this capital increase is 10 million RMB, of which Xingtong Co. will contribute 51 million RMB in cash, and Jianfa Supply Chain Logistics Technology will contribute 49 million RMB. After the capital increase is completed, the registered capital of Shanghai Xingtong Chainfa will increase from 256 million RMB to 356 million RMB, and the company’s shareholding ratio will remain unchanged at 51%.

The capital increase funds will be fully invested in Shanghai Xingtong Chainfa’s wholly-owned subsidiary XINGTONG HERON SHIPPING PTE. LTD., for the purchase of a 25,900DWT stainless steel chemical tanker built by China Merchants Industry Holdings Co., Ltd. at Yangzhou Dingheng Shipyard, with a total transaction amount not exceeding 47.5 million USD (including the shipbuilding fee, supervision costs, etc.).

Basic Information of the Transaction Target

The vessel is currently under construction and will mainly engage in international chemical transportation business upon delivery. The vessel must be in a clean and seaworthy condition upon delivery, with no liens, taxes, claims, mortgages, or other encumbrances.

Source of Funds and Payment Arrangements

The funds for this transaction will come from self-owned funds and bank loans, using an installment payment method:

• | Total | Within 5 banking working days after the completion of overseas direct investment filing, no later than 3 months after the signing of the agreement (extendable by 2 months) | | Third Installment | 10% | 4,568,000 | Within 5 working days after receiving the keel laying completion notice | | Fourth Installment | 10% | 4,568,000 | Within 5 working days after receiving the launching completion notice | | Fifth Installment | 50% | 22,840,000 | Paid upon vessel delivery, plus/minus any adjustment amount for the contract price |

Financial Status of the Capital Increase Target

Shanghai Xingtong Chainfa was established on January 6, 2025, mainly engaged in the transportation of international passenger vessels and bulk liquid hazardous goods. As of September 30, 2025, its main financial data is as follows:

Counterparty Information

This transaction involves two main counterparties:

2. ODFJELL SE: Established in 1920, registered capital NOK 199,299,615.00, mainly engaged in shipping (chemical and liquid cargo transportation), ship agency, liquid terminal operations, and is a publicly listed company on the Oslo Stock Exchange (stock code: ODF).

3. China Merchants Industry Holdings Co., Ltd. Yangzhou Dingheng Shipyard: Established on March 24, 2006, registered capital 611 million RMB, mainly engaged in the design and construction of floating devices and vessels, with Shenzhen China Merchants Heavy Industry Investment Co., Ltd. holding 94.8443%.

The announcement states that there is no relationship between the aforementioned counterparties and the company, and they are not listed as untrustworthy parties, possessing the ability to perform their obligations.

Strategic Significance and Risk Warning

Xingtong Co. stated that this transaction is an important step to promote the company’s “1+2+1” development strategy, which will help expand fleet capacity, increase market share in the international market, and enhance market competitiveness. The completion of the transaction will not lead to changes in the company’s management or create new related transactions or competitive conflicts.

The company also warns that this vessel purchase involves multiple parties, and the fulfillment of the agreement may be affected by market changes, insufficient performance capability, and other reasons. In addition, this capital increase matter still requires filing or approval from various government departments such as the Development and Reform Commission, the competent commerce department, the foreign exchange management authority, and market supervision. The company will fulfill corresponding information disclosure obligations based on the progress of the matter.

This transaction has been approved by the fourth meeting of the third board of directors and does not need to be submitted for review by the company’s shareholders’ meeting.

Click here to view the original announcement>>

Disclaimer: The market has risks, and investments require caution. This article is automatically published by the AI model based on third-party databases and does not represent the views of Sina Finance. Any information appearing in this article is for reference only and does not constitute personal investment advice. Please refer to the actual announcement for any discrepancies. If you have any questions, please contact biz@staff.sina.com.cn.

Massive information, precise interpretation, all in the Sina Finance APP

Editor: Xiao Lang Quick Report