Qingdao Port (Group) Co., Ltd. agreed to acquire an additional 20% stake in Qingdao Qianwan Container Terminal Co., Ltd. from COSCO SHIPPING Ports Limited (SEHK:1199) for CNY 3.2 billion on January 20, 2017. Qingdao Port (Group) Co., Ltd will increase stake to 51%. In a related transition COSCO SHIPPING Ports Limited (SEHK:1199) will acquire 1 billion share of Qingdao Port (Group) Co., Ltd. and for consideration will transfer the 20% stake in Qingdao Qianwan Container Terminal Co., Ltd. For the six months ended June 30, 2016, Qingdao Qianwan Container Terminal Co., Ltd reported profit before taxation of CNY 1.09 million, Net income of CNY 0.83 million and Net assets of CNY 5.99 million. China International Capital Corporation Limited (SEHK:3908) and CITIC Securities Company Limited (SHSE:600030) acted as financial advisor of COSCO SHIPPING Ports Limited (SEHK:1199). Transaction is subject to the approval of shareholder and approval by regulatory board committee. Stock Exchange granted waiver for valuation report.