On August 12, China Merchants Energy Shipping (CMES) issued an announcement regarding the proposed acquisition of control over Antong Holdings Co., Ltd.
The announcement discloses that between July 11, 2025, and August 12, 2026, Sinotrans Container Lines—a wholly-owned subsidiary of CMES—increased its shareholding in Antong Holdings by a total of 632,248,198 shares through negotiated transfers, block trades, and centralized bidding. This stake represents 14.94% of Antong Holdings’ total share capital, making Sinotrans Container Lines the company’s single largest shareholder.
As of August 12, 2026, Sinotrans Container Lines and the parties acting in concert with it—namely China Merchants Port, Sinotrans Limited, Zhanjiang China Ocean Shipping Tally Co., Ltd., Shantou China Ocean Shipping Tally Co., Ltd., Guangdong Sinotrans Shipping Co., Ltd., Xiamen Sinotrans Yufeng Refrigeration Engineering Co., Ltd., and Yingkou Port Group Corporation (all of which are under the common control of China Merchants Group)—collectively held a 24.84% stake in Antong Holdings.
To accelerate the implementation of management control, operational leadership, and capacity synergy regarding Antong Holdings, Sinotrans Container Lines recently submitted a written proposal to the Antong Holdings board of directors to amend the company’s Articles of Association and reconstitute the board. In the upcoming early re-election of the board, the total number of director candidates nominated by Sinotrans Container Lines and its person acting in concert, China Merchants Port, exceeds half of the total membership of the Antong Holdings board.
CMES stated that if the proposals regarding the early election of directors are approved by Antong Holdings’ shareholders and the nominated candidates successfully assume office, a change in control of Antong Holdings will occur. At that time, the controlling shareholder of Antong Holdings will shift from Fujian Zhaohang Logistics Management Partnership (Limited Partnership) to Sinotrans Container Lines, and the company’s ultimate controller will change from having no actual controller to being China Merchants Group.
According to the announcement, Antong Holdings is an integrated logistics service provider specializing in container multimodal transport. Driven by digital and intelligent technologies and leveraging the integration of waterway, road, and rail transport resources, the company continuously expands and strengthens its core container logistics business; utilizing the advantages of its multimodal transport network and information-based platform, it provides customers with end-to-end logistics solutions.
In 2025, Antong Holdings generated operating revenue of approximately 9.08 billion yuan (equivalent to approximately $1.347 billion) and net income attributable to parent company shareholders of approximately 1.086 billion yuan (equivalent to approximately $161 million); in the first quarter of 2026, the company generated operating revenue of 2.12 billion yuan (equivalent to approximately $314 million) and net income attributable to parent company shareholders of 254 million yuan, maintaining profitability.
CMES stated that securing control of Antong Holdings is a key strategic move to deepen its core shipping business, enhance capacity synergies, and support the “dual circulation” development pattern. Following the transaction, the parties will integrate domestic and foreign trade shipping capacities, logistics networks, and customer resources to build an integrated, end-to-end logistics service system. This initiative aims to expand comprehensive logistics capabilities, continuously boost overall operational scale and core industry competitiveness, fully unlock the synergistic value across the industrial chain, and drive the company’s long-term, steady growth.
CMES also noted that the completion of the proposed change in Antong Holdings’ controlling shareholder and actual controller remains subject to the outcome of the vote by Antong Holdings’ shareholders’ meeting, and that the matter is still subject to a degree of uncertainty.