Issue 65, Apr 2023
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Issue 65, Apr 2023
Analogue Holdings Limited (“Analogue”; together with its subsidiaries, the “Group”) has entered into a non-legally binding preliminary letter of intent (“Preliminary LOI”) with the Nanjing Jiangning Economic & Technological Development Zone (“JETDZ”) Management Committee, in relation to possible cooperation about the Group’s potential development of various facilities in the JETDZ.
“Our Group has invested and developed our business in Nanjing for more than two decades,” said Ir Dr Otto Poon, Chairman of Analogue Holdings Limited. “We are impressed with the development of the JETDZ and proud of our business links with the city,” he said. Pursuant to the Preliminary LOI, the Group and the JETDZ Management Committee will further explore the possible cooperation in good faith with a view to entering into an investment cooperation agreement.
Analogue has a wholly-owned subsidiary in Nanjing, namely Nanjing Anlev Elevator Limited, and is completing a RMB60 million expansion of its Nanjing factory facilities to increase production capacity for lifts and escalators to meet the anticipated demand and growth of its global business. It also has an associate partner in the city, namely Nanjing Canatal Data Centre Environmental Tech Company Limited, a company listed on the Shanghai Stock Exchange (stock code: 603912) specialising in manufacturing of precision air conditioners.
Ir Dr Poon and Analogue’s Chief Executive Officer Ir Raymond Chan attended the Preliminary LOI signing ceremony at the “Nanjing Jiangning (Hong Kong) Match Making Conference on High Quality Development of Modern Industries” held in Hong Kong . The event attracted senior management of major corporations from Hong Kong and around the world, with JETDZ leaders also present. Ir Dr Poon was appointed as an “Ambassador of Nanjing” on the occasion in recognition of his contribution to promoting investment opportunities in Nanjing.
As one of the leading Hong Kong enterprises in the JETDZ, the Group enjoys strong support from JETDZ leaders. The RMB60 million factory facilities expansion is completing to further expand Anlev’s manufacturing capacity. The expanded facilities will not only satisfy growing local and global demand for Anlev lifts, escalators and moving walkways, but also strengthen the Group’s capabilities to make the Anlev brand and its business truly global.
“Nanjing is an amazing city with rich heritage in history, culture and talent. We are delighted with our business relationship with the JETDZ and look forward to further cooperation,” Ir Dr Poon concluded.
“We are delighted with our business relationship with the JETDZ and look forward to further cooperation,” said Ir Dr Otto Poon, Chairman of Analogue Holdings Limited.
(Up) Ir Dr Otto Poon, Chairman of Analogue Holdings Limited (third from left) and (Down) Ir Raymond Chan, Chief Executive Officer of Analogue Holdings Limited (first from left) attended the Preliminary LOI signing ceremony.