Jiayou International Logistics' subsidiary signed a memorandum of cooperation with the Tanzanian Ports Authority.

Announcement from Jiayou International Logistics (603871.SH): The company's subsidiaries, TAZACO INVESTMENT LIMITED (referred to as "TAZACO") and TANCOASTAL PORTS LIMITED (referred to as "TPL"), have signed a "Memorandum of Cooperation" with the Tanzania Ports Authority. TAZACO plans to develop and operate the Tunduma land port in Mbeya region of Tanzania, while TPL plans to operate and develop port logistics and channel management in Tanga port of Tanzania. The Tunduma land port is located in the Mbeya region of southwestern Tanzania, at the border between Zambia and Tanzania. It is currently the only land border crossing between Tanzania and Zambia, and it is also an important station for the TanZam railway in Tanzania (from Dar es Salaam to Tunduma). Tanga port is situated on the northern coast of Tanzania, near the Kenya border. It is the second largest port in Tanzania and one of the oldest ports in East Africa, with an annual throughput of nearly 800,000 tons. The port has three storage facilities, including a 15,000 square meter covered warehouse and a 24,000 square meter open yard, capable of storing up to 800 standard containers. The signing of this Memorandum of Cooperation is another breakthrough in replicating the company's core competitiveness in cross-border multimodal transport model with port-border linkage in Central and Southern Africa. Combined with the company's operation and construction of four land border crossings in the Democratic Republic of Congo and Zambia, the acquisition and operation of a large cross-border transport fleet in Africa, and the construction of a comprehensive port-border railway network covering countries such as DR Congo, Zambia, Tanzania, Namibia, Botswana, Zimbabwe, and South Africa, the company's Africa development strategy is steadily progressing and will have a positive impact.