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Thursday, 1 September 2016, 17:21 HKT/SGT

Source: Neo Telemedia Limited
Neo Telemedia and CNOOIT Sign Strategic Cooperation Framework Agreement; Joint Venture Set to Become First Class Information-based Enterprise in China
Jointly Develop Hong Kong, Macau and Overseas Markets

HONG KONG, Sept 1, 2016 - (ACN Newswire) - Neo Telemedia Limited ("Neo Telemedia" or the "Group"; stock code: 8167) announced that its wholly-owned subsidiary Guangdong Bluesea Mobile Development Co., Ltd. ("Guangdong Bluesea") and China National Offshore Oil Information Technology Limited ("CNOOIT"), a subsidiary of CNOOC Energy Technology & Services Limited, signed a strategic cooperation framework agreement (the "Cooperation Agreement") on 1 August 2016, pursuant to which a joint venture will be formed to aid development of markets around the world.

CNOOIT has built a service network that covers Chinese territorial waters and all territories in the country. It also possesses the capacity of whole information technology industry chain of planning and design, electro-weak integration, information technology, industrial automation and operation and maintenance.

Marrying the strengths of Guangdong Bluesea in Internet data center, cloud computing andbig data and the professional information services technology of CNOOIT, the joint venture will provide technology and services of Internet data center, big data applications, Industrie 4.0 and Internet+, and introduce such advanced technology into CNOOC as well as expand into other industries proactively. The aim of the Group is to become a first class information-based enterprise in China. The cooperation will be a business growth driver for the Group, enabling it to generate optimum returns to shareholders in the long run.

About Neo Telemedia Limited

Neo Telemedia Limited and its subsidiaries (collectively, the "Group") is a telecommunication group focusing on the Internet and big data sectors, subsequent to its recent corporate restructuring. The Group has been included as a constituent stock in MSCI China Small Cap Index since November 2015. Its wholly-owned subsidiary, Guangdong Bluesea Mobile Development Company Limited, has partnered with Shangdong Inspur Group to form a joint venture, Guangdong Bluesea Inspur Cloud Computing Company Limited to establish a large cloud computing centre in Southern China. In early 2015, the Group signed several agreements to explore various opportunities in WiFi access services, application of cloud computing and cross-border e-commerce business in the PRC. Additionally, to capture the opportunities arising in the Internet financing market in the PRC, the Group has officially launched its peer-to-peer (P2P) lending platform business under its subsidiary, Avatar Wealth in May 2015. The Group has also launched another P2P lending platform with Bees Financial. Shenzhou Aerospace Manufacturing Technology (Guangdong) Institute, which was jointly established by the Group, Shenzhou Aerospace Software Limited and Chancheng District People's Government of Foshan, was registered as a non-profit organization at the Department of Civil Affairs of Guangdong Province on 23 October 2015. At the end of 2015, the Group completed a public offer and raised approximately HK$1.1 billion to be invested in the data center of Guangdong Bluesea Mobile Development Co., Ltd., including the Zhuxishugu project in Jiangmen.

Strategic Financial Relations Limited
Joanne Lam     Tel: 852-2864 4816  Email:
Cecilia Shum   Tel: 852-2864 4890  Email:
Jeffrey Tam    Tel: 852-2864 4858  Email:
Fax: 852-2527 1196

Sept 1, 2016 17:21 HKT/SGT
Source: Neo Telemedia Limited

Topic: Press release summary
Sectors: Telecoms, Financial, Business
From the Asia Corporate News Network

Copyright © 2016 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

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