Zhejiang Transfar Co Ltd

Transfar Zhilian Co., Ltd. announced that its subsidiary Transfar Logistics will carry out spin-off restructuring for 12 wholly owned highway port subsidiaries in Changsha, Jiangxi, Zibo, Jinhua, Tengzhou, Nanchang, Quanzhou, Zhangzhou, Xiangyang, Jingmen, Huai'an, and Guangyuan, to separate asset-heavy and asset-light operations. After the split, the original companies will continue to handle operations and management, while newly established companies will take over asset management. Taking Changsha Transfar Highway Port as an example, the original company had registered capital of 670.36 million yuan. After the split, it will retain 1 million yuan, while the newly established Changsha Transfar Zhilian Logistics Co., Ltd. will have registered capital of 669.36 million yuan. The other 11 subsidiaries will be split in a similar manner. In 2025, the 12 original companies had combined assets of about 4.733 billion yuan, combined net assets of about 2.813 billion yuan, combined revenue of about 267 million yuan, and combined net profit of about 20.99 million yuan. The company said the split clarifies business and asset boundaries through the separation of heavy and light assets, improves management efficiency, and lays the foundation for future asset securitization. After the split, all companies will remain wholly owned subsidiaries and the restructuring will not affect the consolidated financial statements. The matter still requires approval and registration by market regulatory authorities and remains subject to uncertainty.