SAIC Anji Logistics, the wholly-owned automotive logistics arm under state-owned automaker SAIC Motor, has roped in two new state-affiliated investors, snapping up 2 billion yuan ($275.7 million) in investment.
Shanghai International Port (Group), which operates all the public terminals in the Shanghai port, together with container shipping firm COSCO Shipping Holdings will get a 10% stake each in SAIC Anji Logistics for 1 billion yuan ($137.8 million), according to an exchange filing on December 7.
Post-transaction, SAIC Motor and its affiliate’s holding in Anji Logistics will change to 80% from 100%. The fresh proceeds will enable Shanghai International Port (Group) to share resources, including port facilities, storage space, and logistics information system, among others.
Set up in September 2000, the Shanghai-registered company recorded an audited net profit of around 1.3 billion yuan ($185.1 million) for the fiscal year ended December 31, 2023. Its unaudited net profit during the January-July period hit 603.8 million yuan ($83.3 million) — that was only 45% of what the firm achieved in 2023, per the filling.
With a distribution network spanning over 562 cities in the country, Anji offers finished vehicles, auto parts, and harbour logistics services as well as the related logistics service planning and automotive logistics operations and management systems.
As China’s automotive logistics industry has seen intense competition over the years, Anji is looking to enhance the automotive logistics infrastructure across 12 major markets, ramp up its international market coverage, as well as adopt new energy across the supply chain as part of its efforts to consolidate its market position.
