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(incorporated in Hong Kong with limited liability)
(Stock code: 1668)
Voluntary Announcement
Strategic Cooperation Plans of Integrated Logistics Business
The board of directors (the "Board") of China South City Holdings Limited (the "Company") is pleased to announce that in view of the huge demands of logistics and warehousing facilities resulting from the rapid development of China e-commerce market, certain organizations have strong desire to develop strategic cooperations with Qianlong Logistics Group Limited*(the "Qianlong Logistics"), a wholly-owned subsidiary of the Company. In order to enrich its business substances of a developer and operator of integrated logistics center, the Company has initiated discussions with these organizations on the strategic cooperation plans of Qianlong Logistics (the "Strategic Cooperation Plans"). The Strategic Cooperation Plans include but are not limited to business and capital cooperation.
The Strategic Cooperation Plans will be based on the existing and planned warehousing logistics land and facilities of Qianlong Logistics. The Company and partners will work together to enhance the project layout, business scale, industrial form and service quality of Qianlong Logistics comprehensively, so as to realise the value of assets as well as maximize income and profits.
The Company will work to materialise the Strategic Cooperation Plans as soon as possible and disclose the relevant content of the Strategic Cooperation Plans.
Information about Qianlong Logistics
Qianlong Logistics is an integrated modern logistics enterprise. As a professional operator of e-commerce, logistics and information industrial parks, it adopted the "Internet + Logistics Parks" operation mode to realize the integration of information and resources between transportation, warehousing, distribution and other logistics services providers and production, manufacturing, sales, e-commerce and other cargo owners across the country through the platform, and focused on the establishment of the integrated China South City logistics network. Built on the base of stable logistics park operation, Qianlong Logistics actively expanded its comprehensive third-party logistics services of warehousing and distribution. Qianlong Logistics enhances its service quality by upgrading to include high standard warehouses and planning to expand its business on cold chain logistics.
There is no assurance that the Strategic Cooperation Plans will take place or, if so, when it may take place. The Company will make further announcement(s) in relation to the strategic cooperation as and when appropriate and/or required pursuant to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. Shareholders and potential investors of the Company are advised to exercise caution when dealing in the securities of the Company.
For and on behalf of the Board
China South City Holdings Limited
CHENG Chung Hing Chairman and Executive Director
Hong Kong, 4 March 2021
As at the date of this announcement, the executive directors of the Company are Mr. Cheng Chung Hing, Mr. Zhao Lidong and Ms. Cheng Ka Man Carman; the non-executive directors of the Company are Mr. Cheng Tai Po and Mr. Lin Ching Hua; and the independent non-executive directors of the Company are Mr. Leung Kwan Yuen Andrew, GBM, GBS, JP, Mr. Li Wai Keung and Mr. Hui Chiu Chung, JP.
*For identification only