World Largest Port Group Shanghai International Port Group Ex-President Yan Jun under Investigation for Corruption
18th August 2023 | Hong Kong
The world largest port group Shanghai International Port Group former President Yan Jun had been placed under investigation for corruption. Shanghai International Port (Group) Co., Ltd. (abbreviation: “SIPG”, stock code 600018) is a public terminal operator of Shanghai Port. It was listed on the Shanghai Stock Exchange on October 26, 2006, becoming China’s first wholly listed port joint-stock company.
“ World Largest Port Group Shanghai International Port Group Ex-President Yan Jun under Investigation for Corruption “
Shanghai International Port (Group)
Shanghai International Port (Group) Co., Ltd. (abbreviation: “SIPG”, stock code 600018) is a public terminal operator of Shanghai Port. It was listed on the Shanghai Stock Exchange on October 26, 2006, becoming China’s first wholly listed port joint-stock company. Situated in the middle of the eastern coastline of the Chinese mainland, the Port of Shanghai is the intersection of the T-shaped water transport network comprising the Yangtze River, known as the golden waterway, and coastal transport channels. It enjoys access to the southern and northern part of China’s coastal area, oceans across the world, as well as the Yangtze River basin, inland rivers of Jiangsu, Zhejiang and Anhui provinces, and Taihu Lake basin. Served by well-connected road and railway networks, and fully-developed cargo collection and distribution systems, the Port of Shanghai occupies an important geographic location with superior natural conditions and a robust hinterland economy.
Shanghai International Port (Group) Co., Ltd. (SIPG), operator of public terminals in the Port of Shanghai, is a large-scale specialized conglomerate established in January 2003 through the restructuring of the Shanghai Port Authority. It became a shareholding company in June 2005, and was listed on the Shanghai Stock Exchange on October 26, 2006, becoming the first of its kind to go public in China. SIPG is currently the biggest listed company in port operation in the Chinese mainland, and one of the biggest in the whole world. The main businesses of SIPG include port handling operation, integrated logistics service, port- related service and port investment business. An industrial chain of port logistics encompassing stevedoring, warehousing and storage, shipping, land transportation and agent service has been put in place. SIPG has in Shanghai 12 branches, 3 internal organizations, 31 second-tier subsidiaries (wholly-owned and holding), and 13 companies with equity investment. The container throughput of the Port of Shanghai (home port of SIPG) stood at 43.303 million TEUs in 2019, ranking No. 1 in the world for 10 consecutive years. As of December 31, 2019, the Company had 142.177 billion yuan in total assets, 9.062 billion yuan in net profit attributable to the parent, and 133.712 billion yuan in market capitalization in the A-shares market. The social contribution value per share of the Company is 0.9342 yuan this year.
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