China Logistics Group has received unconditional approval from the State Administration for Market Regulation to acquire a 60% stake in Dongfang Electric Group Dongfang Logistics Co., Ltd.

Under the transaction, China Logistics Group and its affiliates will increase capital in Dongfang Logistics and acquire a 60% stake, while Dongfang Electric Group Sichuan Materials Co., Ltd. will retain 40%. Before the deal, Dongfang Logistics was wholly owned by Dongfang Electric’s materials subsidiary.

Founded in 2007, Dongfang Logistics specializes in project logistics for electromechanical products and heavy-lift cargo, providing door-to-door third-party logistics services.

The acquisition is a major step in professional logistics cooperation between China Logistics Group and Dongfang Electric Corporation. The two sides signed an agreement in June to jointly build a specialized logistics platform serving the equipment manufacturing sector.

China Logistics Group Chairman Liu Jingzhen said the company will leverage its physical and digital logistics networks to build a leading smart supply chain service platform for energy equipment.

In recent years, China Logistics Group has expanded cooperation with manufacturing companies, including investments in XCMG Cloud Warehouse, China Automotive Logistics and a joint equipment logistics company with China Electrical Equipment Group.