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Nantong Jiangshan established a joint venture to engage in port storage business

On 30 Nov., 2019, Nantong Jiangshan Agrochemical & Chemical Co., Ltd (Nantong Jiangshan) decided to propose jointly with Sinotrans Changjiang Co., Ltd to establish the joint venture—Nantong Jiangshan Sinotrans Prot Storage Co., Ltd, with registered capital of USD0.71 million, of which Nantong Jiangshan subscribed paid-up capital of USD0.36 million with 50% equity of the joint venture.

 

In the original plan, the main investor of the joint venture was supposed to be Sinotrans Changjiang Co., Ltd, but because of changes in Sinotrans institutes, the main investor of joint venture changed to Sinotrans Eastern Co., Ltd that belongs to the same group with no changes in other investment articles.

 

Sinotrans Eastern Co., Ltd was established on 29 Nov., 2002 with registered capital of USD159.4 million. In 2018, revenue of the company reached USD3.4 billion, and net profit hit USD71.1 million. Its main shareholder is Sinotrans Limited.

 

The subject company in the above foreign investment finished registration procedure of business establishment, and obtained business license issued by the department of administration for industry and commerce recently.

 

Basic information of the joint venture newly established by Nantong Jiangshan

²  Company name: Nantong Jiangshan Sinotrans Prot Storage Co., Ltd

²  Registered capital: USD0.71 million

²  Business term: 28 Nov., 2019 to 27 Nov., 2039

²  Business scope: agency service in international transportation; port agency service in transportation of general goods, storage of general goods, logistics service, and relevant consultation service (excluding container and dangerous cargos)


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