China Infrastructure Ports (01719.HK) announced that its English name had been changed from "CIG Yangtze Ports PLC" to "China Infrastructure & Logistics Group Ltd." and its Chinese dual foreign name had been changed from "China Infrastructure Ports Limited" to "China Trading Group Limited".
In addition, the abbreviation of the company's shares traded on the Stock Exchange in English will be changed from "CIG PORTS" to "CIL GROUP", while the abbreviation of the Chinese shares will be changed from "China Infrastructure Port" to "China Commerce Group" with effect from 9:00 a.m. on August 24, 2018. The stock code of the company remains unchanged at the stock exchange and remains "1719".The company web page has been changed from cigyangtzeports.com to cilgl.com, and has been effective since the date of promulgation.
It is understood that the Rename is due to the company is transforming from a traditional port service provider to a modern logistics and infrastructure integrated service provider, the new name will more accurately reflect the company's strategic direction and business focus. This is another major adjustment after the company's listing on the main board of the Hongkong stock exchange earlier this year.
Since 2015, China's infrastructure ports have accelerated the pace of transformation and upgrading. The business model has expanded from providing traditional container, bulk and bulk cargo handling and warehousing services to port construction and operation, port and warehouse leasing, logistics services, port processing trade and infrastructure investment and construction. The comprehensive port service.
The renamed "China Trading Group" will be based in China, facing the global market, around the development pattern of big trade, big logistics, big trade and big infrastructure, build an open modern logistics system linked by ports, and provide infrastructure and international trade services. The company's business will focus on five major sectors, namely, trade port, trade construction, trade resources, trade trade and investment, deep cultivation of port logistics, infrastructure construction, green mineral resources, port processing trade, building China's largest inland port logistics system and building a leading domestic open trade service system. With the company's rename and business scope expansion, the company will further expand the size, strength, into the development of fast lane.