Yantian Port to liquidate logistics subsidiary

Guangzhou: Shenzhen Yantian Port Holdings has announced that the board has approved to liquidate one of the company’s controlling subsidiaries, Yantian Port Container Logistics Center Company.

Xu Yunguo, general manager of Yantian Port said earlier that the logistics business of the port was facing more pressure due to increased competition and slower growth in the port industry.

Yantian Port reported a net profit of RMB290m for the first nine months of this year, a year-on-year growth of 5.69%. [28/10/13]

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