CHINA Shipping Development (01138.HK) said that it has agreed to sell 2 bulk vessels to connected person Shanghai Shipping Group Company Digang Dili Recovery Company Limited for RMB33 million (HK$41 million).

China Shipping Development intends to use the net proceeds arising from the sale as its working capital and expects a total of RMB15 million (HK$18 million) net profit from the sale.

Source:chinesestock.org