EQS-News / 24/06/2021 / 09:30 UTC+8
CN Logistics International Holdings Limited
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(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 2130)
CN Logistics Italy's Business Expansion as a Regional Hub Grasping Post-COVID O2O Opportunities
[Hong Kong - 24 June 2021] A well-established international logistics solutions provider, CN Logistics International
Holdings Limited (the "Company", together with its subsidiaries, the "Group", stock code: 2130), is pleased to announce
its plan on enforcing the Group's business layouts in two countries, especially Italy, through the acquiring two
non-wholly-owned subsidiaries in Italy and Switzerland, so as to promote the Italian regional office to become the
Group's European business hub, specialising in handling logistics services in and out of Europe, and seeking more
business opportunities.
According to the Memorandum of Understanding signed between the Group and the two subsidiaries, the Group intends to
pay no more than HKUSD10 million and HKUSD150 million to CN Switzerland and CN Italy in cash and shares, and acquire the
remaining 40% and 30% of the issued share capital. After the transaction is completed, the two subsidiaries will become
wholly-owned subsidiaries of CN Logistics. The Group intends to develop Italy into European business headquarter and
improve its strategic layout. Management expects to integrate valuable resources of European business partners,
including infrastructure, customer portfolios, industry talents, in order to seek more development opportunities and
provide logistics services for more high-end brands and fine-wine companies, as well as B2C businesses in Asia to
facilitate Europe eCommerce dealings on China e-commerce platforms to further enhance business growth and financial
performance.
Mr. Ngan Tim Wing, Executive Director and Chief Executive Officer of CN Logistics, commented, "Being a luxury
brands-focused logistics service provider, Europe has always been the focus of the Group's development. Through this
strategic move, the Group is expected to promote the Italy office to become a European business headquarter, and
through equity incentives to establish a closer relationship with the management teams of the two subsidiaries to
achieve a win-win situation. Given the unprecedented success of the green logistics launched by the Group in the
Greater China market, we also plan to introduce this service to the European market to establish business contacts with
a wider range of brands. As the vaccination rate in Europe, especially Italy, continues to increase, we expect that the
region's economy will start to gradually recover in the middle of this year, and the demand for luxury goods will
gradually rise. I believe that this strategic layout will become timely rain that allows the Group to better grasp new
local business opportunities and even seek to provide European logistics services for Asian e-commerce platforms to
promote business development and garner more fruitful returns to shareholders.
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About CN Logistics International Holdings Limited
Established in 1991, CN Logistics is a well-established international logistics solutions provider with core business
of providing air freight forwarding services and distribution and logistics services in relation to fashion products
and fine wine, primarily focusing on high-end fashion (including luxury and affordable luxury) products. According to
the CIC Report, the Company ranked first in the distribution and logistics market for high-end fashion products in both
the PRC and Hong Kong in 2019.
This press release is issued by DLK Advisory Limited on behalf of CN Logistics International Holdings Limited.
For enquiries, please contact:
DLK Advisory ????
File: CN Logistics Italy's Business Expansion as a Regional Hub Grasping Post-COVID O2O Opportunities
24/06/2021 Dissemination of a Financial Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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June 23, 2021 21:30 ET (01:30 GMT)
