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Orchid Coal and Chemical Industry intends to acquire a 62% equity stake in Shandong Jiaxiang Yilong Port Co., Ltd., currently held by Shandong Xuhong Industrial Investment Co., Ltd., for a total cash consideration of RMB 148.8 million. This strategic move aims to broaden Orchid Coal and Chemical Industry's business horizons, bolster its corporate competitiveness, and facilitate a swift entry into the inland waterway shipping and associated logistics sectors. By capitalizing on Jiaxiang Port's established infrastructure, extensive networks, and loyal customer base, Orchid Coal and Chemical Industry anticipates bolstering its market share in the logistics and transportation of coal and other bulk commodities. Furthermore, the company expects to achieve synergistic growth with Jiaxiang Port in the realms of resources, distribution channels, and clientele.
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