News Release


              SIPG and Hidden Hill Capital Have Become Strategic Investors and Quality Investors Were Introduced to CIMC Wetrans


              On March 10, CIMC, SIPG and Hidden Hill Capital signed the Strategic Investment Agreement through the "cloud signing" to jointly increase capital in CIMC Wetrans Logistics Technology (Group) Co., Ltd. (hereinafter referred to as CIMC Wetrans). Gao Xiang, President of CIMC, Zeng Han, Chief Financial Officer of CIMC & Chairman of CIMC Wetrans, Hu Pengfei, Managing Director of CIMC Wetrans, Yan Jun, President of SIPG, and Dongfang Hao, Chief Strategy Officer of GLP China & Chairman of Hidden Hill Capital, attended the signing ceremony online.

              As a holding subsidiary of CIMC, CIMC Wetrans is committed to becoming a leader in multimodal transport featuring "equipment + technology" in China. It is driven by technology, and provides customers with efficient, stable and low-carbon logistics solutions. In recent years, through the combination of continuous strategic investment and endogenous development, CIMC Wetrans has achieved all-round coverage of all routes in North America, Latin America, Europe, Australia and New Zealand, South Asia, Southeast Asia and Africa, and it is in an industry-leading position in most of the routes. The company has gradually realized the multimodal transport strategy from "transporting from China to the world" to "global transport".

              Multimodal transport is one of the ways to help with the green and efficient development of global supply chains. The "14th Five-Year Plan" also clearly pointed out that the state encourages the development of multimodal transport in fields such as railway-waterway transport, road-waterway transport, and air-railway transport, and increased proportion of container railway-waterway transport. In recent years, China's railway-waterway transport and sea-rail combined transport have maintained rapid development, and there is still huge potential compared with developed countries. CIMC has always been optimistic about the multimodal transport, and this round, it will increase capital as SIPG and Hidden Hill Capital do.

              Gao Xiang said that after this round of introduction of strategic investors and capital increase, CIMC will support the development of CIMC Wetrans as always, and as for logistics solution for industry customers, CIMC will further empower CIMC Wetrans with the Group's resources, so that it is more distinctive and potential among similar enterprises in the world. "CIMC will help CIMC Wetrans to become a leader in China's multimodal transport industry and an outstanding enterprise in the field of global logistics supply chain."