The targeted stock equities include 1.59% shares of Qingdao Port and 0.02% shares of Cosco Shipping Holding.

The stake sale transactions are beneficial to the company’s asset structure optimization and will improve the company’s financial status, commented Zhenhua. 

Zhenhua recently reports a 73.5% net profit drop for the first quarter of this year. The company is facing pressures from performance decline and profitability falling.