Yangzijiang Shipbuilding (Holdings), has, through its indirect wholly-owned subsidiary Jiangsu New Yangzi Shipbuilding Co, subscribed for 100% shares in Jiangsu Tianhong Marine Import and Export Co., Ltd with a registered paid-up capital of RMB10 million ($2.06 million).

Jiangsu Tianhong, a newly-incorporated company in China, will help shipbuilders facilitate the purchase of shipping related marine equipment as well as the sale and export of vessels.

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