CMA LOGISTICS (01292) plans to establish a joint venture company with Minsheng Shipping (Thailand) and CTI.

CMA LOGISTICS(01292) announced on January 16, 2025, that the company, Minsheng Shipping (Thailand), and CTI have signed a joint venture agreement, with the contracting parties agreeing to establish a joint venture company. According to the joint venture agreement, the registered capital of the joint venture company is equivalent to 30 million Chinese yuan in Thai baht. The company, Minsheng Shipping (Thailand), and CTI will each contribute 13.2 million Chinese yuan equivalent in Thai baht, 9 million Chinese yuan equivalent in Thai baht, and 7.8 million Chinese yuan equivalent in Thai baht respectively. These contributions will be paid in cash in Thai baht equivalent to the Chinese yuan amount subscribed by the contracting parties under the joint venture agreement. After the contracting parties have completed their contributions to the joint venture company, the company, Minsheng Shipping (Thailand), and CTI will respectively hold approximately 44%, 30%, and 26% of the registered capital of the joint venture company. Chongqing Changan Automobile announced the "Embracing the World" strategy to expand its overseas market layout. As an important part of the "Embracing the World" strategy, Chongqing Changan Automobile's ASEAN base has a production capacity of 200,000 units, making it the company's first overseas full industry chain base integrating research, production, supply, sales, and logistics. It will radiate to markets such as Australia and New Zealand, South Africa, the UK, and ASEAN markets like Vietnam, and play an important strategic role in achieving the overall overseas strategic goals. Since its establishment, the group has had business dealings with Chongqing Changan Automobile and has maintained a good cooperative relationship. The group is a major logistics service provider for Chongqing Changan Automobile and its affiliates. The group's logistics services have always been highly recognized by Chongqing Changan Automobile and its affiliates. The company closely follows Chongqing Changan Automobile's overseas layout. The purpose of establishing the joint venture company is to integrate the resources of the contracting parties to provide comprehensive and all-round logistics solutions for Chongqing Changan Automobile's base in the ASEAN region, and through this project, develop the group's brand as a world-class car logistics service provider and expand its services to the entire ASEAN region, bringing new revenue growth to the group.