Shenzhen International and Heungkong Holding Signed Strategic Cooperation Agreement to Develop Logistics Partnership

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Wednesday, 17 December 2014, 12:29 HKT/SGT

HONG KONG, Dec 17, 2014 - (ACN Newswire) - Shenzhen International Holdings Limited ("Shenzhen International" or the "Group", stock code: 00152.HK) is pleased to announce that the Group has entered into strategic cooperation agreement with Shenzhen Heungkong Holding Co., Ltd. ("Heungkong Holding", SSE: 600162.SH) to accelerate the Group's "China Urban Integrated Logistics Hub" projects through the long-term cooperative development.

Shenzhen International and Heungkong Holding Signed Strategic Cooperation Agreement to Develop Logistics Partnership

Heungkong Holding is engaged in real estate development and operation, with more than twenty residential and commercial property projects, and currently plays a significant role in commerce and trade logistics property industry sector. Heungkong Holding has built more than ten commerce and trade projects in China, with an area of developed logistics network amounting to 5 million square meters. Heungkong Holding has signed its Gaoling International Commercial Plaza project in Changsha in July 2014.

Based on the principles of mutual benefit and joint development, Shenzhen International and Heungkong Holding will carry out the comprehensive and in-depth cooperation as follows:

1) Heungkong Holding will recommend the Group's warehousing service in "Shenzhen International Changsha Integrated Logistic Hub" project, which was signed in Oct 2014, and other integrated logistic services including transportation, to its customers based in Gaoling International Commercial Plaza, to increase the customer resources in the Group's "Shenzhen International Changsha Integrated Logistic Hub" project

2) With the Group' development and operating abilities of its logistics parks, together with the rich experience in commerce and trade logistics market of Heungkong Holding, the Group will work with Heungkong Holding, to co-develop the two Changsha projects into a regional influential commerce and trade center & logistics center

3) Further to the Changsha project cooperation, cooperative development regarding future logistics projects in other cities would be taken into prior consideration
Mr. Li Jingqi, Chief Executive Officer of Shenzhen International, said, "As a leading public logistics infrastructure platform provider in China, Shenzhen International will continue for the investment and construction of Shenzhen International's "China Urban Integrated Logistics Hub" projects across logistics gateway cities in China, and plan to form a nationwide logistics network and distribution hub within 3 to 5 years. While Heungkong Holding, a well-known enterprise in China, needs strong logistics services support especially during the expansion of its commerce and trade industry sector. The strategic cooperation, in line with the principles of mutual benefit and joint development, will give full play to respective advantages in terms of resources, capital, brand and management and help facilitate the planning and development of project, in a win-win bid to promote brand influence and more value creation for both companies' shareholders."

Shenzhen International Holdings Limited
Shenzhen International Holdings Limited is a company incorporated in Bermuda with limited liability and is listed on the main board of the Stock Exchange of Hong Kong. The Group is principally engaged in the investment, construction and operation of logistic infrastructure facilities, as well as providing various value-added logistic services to customers leveraging its infrastructure facilities and information services platform. Shenzhen Investment Holdings Company Limited, the controlling shareholder of the Company, is a corporation wholly-owned by Shenzhen Municipal People's Government State-owned Assets Supervision and Administration Commission.

Topic: Press release summary Sectors: Daily Finance
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