|Set up a Joint Venture to Develop Energy Industry Data Service Business;|
Jointly Expand Data Center Business
HONG KONG, June 20, 2017 - (ACN Newswire) - Neo Telemedia Limited ("Neo Telemedia" or the "Group"; stock code: 8167) announced that its wholly-owned subsidiary Guangdong Bluesea Mobile Development Company Limited*("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 ("Cooperation Framework Agreement") on 19 June 2017, regarding setting up a joint venture to invest in developing data center and Big Data businesses.
CNOOIT boasts capabilities across the entire information technology industrial chain from planning and design, electro-weak integration, information technology to industrial automation and operation and maintenance. Its service network covers all of China, land and sea. It is CNOOC's internal professional information technology service unit.
The 13th Five-year Plan of China clearly stated the need for the country to raise the level of informatization with emphasis on promoting in-depth integration of informatization and industrialization, as well as hastening informatization in both the country's economic and social sectors. Also, the General Office of People's Government of Guangdong Province has issued a "Development Action Plan for Promotion of Big Data in Guangdong Province (2016-2020)", which supports development of Big Data business and active development of key industries in China. Capitalizing on the strengths of Guangdong Bluesea in Internet data center, cloud computing and Big Data, and the industrial strengths of CNOOIT in providing key information technologies to energy industry players, the new joint venture will operate based on the state-owned enterprise mixed model in order to provide all-engulfing service solutions including entail data center, value-added service of data cloud computing and Big Data application to the domestic energy industry. As a result, the Big Data market will be expanded which will in turn boost rapid growth of the Group's business and enable it to create the best returns for shareholders.
About Neo Telemedia Limited (stock code: 8167)
Neo Telemedia Limited and its subsidiaries (collectively, the "Group") is a telecommunication group focusing on the Internet and big data sectors. The Group was included as a constituent stock in MSCI Hong Kong Small Cap Index with effect from December 2016. Its wholly-owned subsidiary, Guangdong Bluesea Mobile Development Company Limited, will partner with large-scale telecommunications operator in China 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, Avatar Wealth and Bees Financial offer Internet finance platform business services. Shenzhou Aerospace Manufacturing Technology (Guangdong) Institute, which was jointly established by the Group, Shenzhou Aerospace Software Limited and Foshan Chancheng District People's Government, 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.
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June 20, 2017 09:42 HKT/SGT
Topic: Press release summary
Sectors: Media, Daily Finance, Enterprise IT, Daily News
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