Liaoning Port announced that the Dalian Economic and Technological Development Zone People’s Court has formally appointed Dalian Wanlong Tianxin Certified Public Accountants Co., Ltd. as administrator for the bankruptcy liquidation of its wholly owned subsidiary, DCT Logistics Co., Ltd. The court’s decision, referenced as (2026) Liao 0291 Po No. 1, follows the court’s acceptance of the bankruptcy petition on 16 December 2025.

The administrator will take over all property, records and operations of DCT Logistics and will represent the debtor in ongoing litigation, arbitration and enforcement proceedings. According to the ruling, duties include investigating and managing the subsidiary’s assets, determining daily expenses, deciding whether to continue or cease operations prior to the first creditors’ meeting, and convening such meetings as required.

Liaoning Port indirectly holds 100 % of DCT Logistics through two subsidiaries—Dalian Port Jifa Logistics Co., Ltd. and Dalian Port Container Development Co., Ltd.—but bears no guarantee obligations or joint liabilities for the subsidiary’s debts.

Financial exposure is contained. Liaoning Port already booked a RMB 180.00 million provision as at 31 December 2021 for DCT Logistics’ estimated debts and has fully impaired related equity and goodwill. Management stated that the liquidation process is not expected to materially affect current or future-period profits, pending completion of the liquidation and audit confirmation.

Operationally, DCT Logistics’ warehousing and logistics activities are non-core, and the parent company reports stable business performance in other segments.

The company will continue to cooperate with the court-appointed administrator, monitor proceedings and disclose material developments in accordance with Shanghai Stock Exchange requirements. Investors are advised to follow subsequent announcements for further updates on the liquidation progress and related litigation outcomes.