Tian Yuan (HKG:6119) said it plans to enter China's healthcare sector, according to a Dec. 19 Hong Kong bourse filing.
Shares of the cargo terminal operator were down nearly 7% in Monday's midday trade.
The company has set up a wholly owned subsidiary in Hong Kong to support the move and appointed Wu Yu as general manager to oversee strategy, business development, and operations for the new healthcare business.
Tian Yuan said the expansion aims to diversify revenue streams and tap long-term growth opportunities in China's healthcare industry.
The new business will be funded through internal resources, the filing said.
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