Date of Report: September 30, 2024
Broker Name: CGS International Securities

Sale of 34% Stake in China Unit to YZJSGD
Tsuneishi Group, a notable player in the maritime and shipbuilding industry, has agreed to sell a 34% stake in its China unit to YZJSGD. The transaction is valued at RMB 833.1 million (S$158.3 million). This deal reflects Tsuneishi Group’s strategic decision to divest part of its Chinese operations to strengthen its partnership with YZJSGD.

Strategic Impact of the Sale
By selling this significant stake in its China unit, Tsuneishi Group may be focusing on consolidating its operations or aligning with YZJSGD for deeper collaboration in the shipbuilding sector. The sale is part of a broader trend in the industry where companies are optimizing their resources and partnerships to enhance competitive positioning in key markets like China.

This summary is based on the information provided in the September 30, 2024, report, highlighting Tsuneishi Group’s divestment and its strategic implications for the company’s operations in China.