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HONG KONG, Mar 30, 2016 — /BackupReview.info/ — Sheen Tai Holdings Group Company Limited (“Sheen Tai” or the “Group;” HKSE: 1335) has unveiled its plan to enter the cloud distribution and information market in the PRC through acquisitions and investment. As part of this strategic initiative, the Group will invest in and build infrastructures to support cloud distribution network across the country, enhancing the interconnection within and outside the PRC. This will be a brand new generation of information infrastructure ecosystem, which will turn the Group into the world’s largest third-party network platform provider. Sheen Tai will provide infrastructure and services to internet companies, generating incomes based on dataflow and broadening its income sources.
To release the maximum value of existing information resources, Sheen Tai will implement its investment plan on building the cloud network platform in the next three to five years. Through this strategic initiative, the Group will participate in the “Internet+” public-private partnership (PPP) program promoted by the Chinese Government. It will also build 500 cloud distribution platforms in third- and fourth-tier cities to provide comprehensive information service. Besides, it will set up a sales force for the direct sale of the Group’s cloud storage and cloud computing products. Around ten regional data centers will be established for the connection of distributed data centers and control rooms in different places. Moreover, the Group will engage new partners to ensure the cloud distribution network interconnected among different cities, between cities and information consumption, between industries and capital market, as well as the government’s service procurement system and the connection between domestic and overseas internet companies. By implementing the abovementioned strategic plan, Sheen Tai aims to eventually cover half of the population in the PRC, and ultimately to build a brand new “Internet+” ecosystem.
On 17 March 2016, Sheen Tai entered into a Sale and Purchase Agreement with Bloom Shine Investments Limited, whereby the Group has purchased the entire issued share capital of Treasure Cloud Limited for more than HK$236 million. Upon the completion of the acquisition, Sheen Tai will hold indirectly the entire equity interest in She Yang Cheng He Information Technology Company Limited, a wholly-owned subsidiary of Treasure Cloud Limited in the PRC. Among the assets acquired are 15 cloud platforms upon the completion of the corporate reorganization, and also included within the term is the distribution of revenue arising from the operation of the Cloud Platforms as stated in the Cloud Platform Operating Agreement signed with Guang He Hui Yun.
Mr. Guo Yumin, Chairman of Sheen Tai, said, “We have been actively evaluating investment and business development prospects and proactively taking measures to seize the opportunities presented by the country’s 13th Five-Year Plan. Our transformation and entry into the cloud distribution and information market in the PRC is in line with the national strategy of establishing cloud computing sector as one of its emerging key areas of development. Cloud computing, being one of the important pillars of the new-generation informational technology industry, possesses vast growth potential. The development of the cloud distribution network platform in the PRC and its connection with the data center in Hong Kong marks the Group’s first step of the “One Belt One Road” initiative in the internet industry. These efforts complement the national informatization strategy in a number of areas: promoting the development of cloud computing and the Internet of Things (IoT) in full force, bolstering the cloud service platform infrastructure for the industry, facilitating the transfer of industry information systems to cloud platforms, setting “Internet+” industry standard system and maximizing the influences of the country’s RMB40 billion emerging industry venture capital funding and capturing the early-mover advantage brought about by the relevant policies. Looking ahead, we are optimistic about the development prospects of the cloud computing industry. We will continue to explore its growth potential and new investment and cooperation opportunities while broadening the Group’s income streams so as to create long term, stable and fruitful investment returns for our shareholders.”
About Sheen Tai Holdings Group Company Limited
Source: Sheen Tai Holdings Group, Inc.
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