HONG KONG, Dec. 10, 2014 /PRNewswire/ — The board of directors of China Public Procurement Limited (HKEx stock code: 1094, the "Company" or "CPP") announced that its indirect non-wholly-owned subsidiary Guocai (Beijing) Technology Company Limited, its PRC partner Guocai Science & Technology Company Limited and the Zhejiang Nine Top Office Services Company entered into the Exclusive Services and Cooperation Agreement to grant the exclusive operation right of the electronic trading platform for logistics services to the Zhejing Nine Top Office Services Company at the consideration of RMB30 million.
CPP announced on 10 December 2014 that it has entered into an exclusive services and cooperation agreement with Zhejiang Nine Top Office Services Company to jointly establish an e-commerce company for the setting up and operation of the Logistics Services Platform. It allows users to locate the office supplies and enter into transactions with providers of administrative services, which is expected to be an online platform under the China Public Procurement Platform. CPP could provide relevant third party services on the Logistics Services Platform, including but not limited to offline marketing services, third payment services, supply chain finance services, certification services; credit investigation services, insurance services, training services, consulting services, broadcasting services and exhibition services, and it may charge a service fee thereon. In regard to the above cooperation, Zhejiang Nine Top Office Services Company will enter into further implementation agreement(s) in the near future to agree on the details of the manner of cooperation and revenue sharing arrangements.
Mr. Cheng Yuanzhong, Chairman of the Company said, "Taking into consideration the potential costs for the development and operation of the Logistics Services business on the China Public Procurement Platform, we believe that is in the interest of CPP to cooperate with Zhejiang Nine Top Office Services Company by receiving the fees of granting the exclusive operation right of the electronic trading platform for logistics services to and provision of other relevant service. We also believe this cooperation can enhance the diversity of services and expand the customer base of the China Public Procurement Platform."
About China Public Procurement Limited
China Public Procurement Limited is listed on the Main Board of The Stock Exchange of Hong Kong (stock code: 1094). The Group is principally engaged in the development of the public procurement services which involves the provision of procurement services to general public and government in the PRC, and the development of EMC service.