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HUAZHANG TECHNOLOGY WILL ACQUIRE LOGISTICS AND WAREHOUSING BUSINESS IN GUANGDONG INTENDS TO BECOME A ONE-STOP PAPER SERVICE PROVIDER

Huazhang Technology Holding Limited (“Huazhang” or the “Group”, HKSE: 1673) is pleased to announce that, the Company will acquire the entire direct equity interest of Fu An 777 Logistics Limited (“Fu An 777”), logistics and warehousing company in Yangjiang City, Guangdong Province. The Vendors are Independent Third Parties.

logoFu An 777 is mainly engaged in logistics and warehousing business. It is constructing a logistics and warehouse centre in Yangjiang City, Guangdong Province, which can provide bonded logistics services, including raw materials, equipment and supplies for papermaking enterprises. Huazhang intends to become a one-stop paper service provider through the potential acquisition.

Mr. Zhu Gen Rong, Chairman of Huazhang, said, “In view of the Guangdong Province is one of important base of the paper industries in China and has more than 100 papermaking enterprises. Through the acquisition of the Targeted Group, it will help strengthen the Group’s after-sales and maintenance services and establish a one-stop integrated service platform through further integration of internal resources, to promote all-rounded services to papermaking enterprises.”