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Zhonggu raises capital as profits soar

Zhonggu Logistics will issue up to 133,333,333 A-shares to raise CNY3 billion (US$461 million) that will finance newbuildings, new containers and develop information technology solutions, following the company’s 2020 net profits to CNY1.02 billion (US$157 million), a 19% year-on-year increase.

China’s largest domestic liner operator, which launched its first overseas route in March, stated that it transported 13.1 million TEU in 2020, up 13% year-on-year.

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