【AM730】Enterprise News ｜KaiLong Group and Reitar Logtech Group join hands to build the largest automated smart cold chain logistics centre in Hong Kong
- June 24, 2023
【AM730】COVID-19’s Impact on Food Industry: Frozen Foods Particularly Affected
Mr. John Chan, Chairman and Managing Director of Reitar Logtech Group, has highlighted the importance of the project’s location in the center of Kwai Chung. The industrial building is of high quality and provides an excellent starting point for the logistics of cold chain food.
However, the epidemic has also caused a sharp increase in demand for frozen foods, resulting in a shortage of frozen equipment in Hong Kong. To address this issue, Reitar Logtech Group plans to develop multiple large-scale automated cold storage facilities in Hong Kong over the next 2-3 years to meet the market demand.
Furthermore, both parties are committed to maintaining a close cooperative relationship and hope to establish a cold chain asset network in Hong Kong in the future. This will not only benefit the food industry but also contribute to the overall development of the logistics sector in Hong Kong.
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Reitar Logtech Holdings Limited (Nasdaq: RITR) (the “Company”), is pleased to announce that its wholly-owned subsidiary, Kamui Cold Chain Engineering and Services Limited, has recently won the bid for the fire system upgrade project of a large smart logistics center located on Airport Island, with a contract amount of HKD 231 million (approximately USD 29.6 million).
On the afternoon of September 19, 2024 (EST), Mr. John Chan, Chairman and Chief Executive Officer of Reitar Logtech Holdings Limited ("Reitar Logtech", NASDAQ: RITR), rang the closing bell of the NASDAQ Stock Exchange at the NASDAQ Tower in Times Square, New York.
RBF is increasingly becoming a key driver in the smart logistics sector. This model not only alleviates companies' financial pressures but also fosters innovation and market expansion.
The logistics industry is currently grappling with significant challenges, including business expansion, technology upgrades, and supply chain management. As companies strive to upgrade to smart logistics level, there is an urgent need for substantial financial support. One solution gaining traction is Revenue-Based Financing (RBF), which offers a flexible approach to cash flow management.