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| Joining an Expected Project Amount up to RMB16 billion |
HONG KONG, Apr 1, 2015 - (ACN Newswire) - China Household Holdings Limited ("China Household" or the "Group"; Stock Code: 692) announces that Zhongshan Gaoli Lock Product Inc*. ("Gaoli"), the strategic cooperation partner of the Group in the intelligent household business segment, has signed an official business contract with a well-known telecommunication operator in China as the sole provider of intelligent household products. Gaoli will provide the intelligent household system and products for the telecommunication operator and develop into the industry hand-in-hand. Besides, the Group is also pleased to announce that the acquisition of China New Oriental Household Holdings Limited was completed on 30 March 2015. Upon the completion of the acquisition, the Group will fully share Gaoli's vision in the intelligent household business, enjoying the relevant resources in channels, customers, and partners.
On 9 March 2015, the defeat of numerous industrial players led Gaoli to sign an official business contract with a well-known telecommunication operator and to become its sole supplier for intelligent household equipment. The first batch of intelligent household products shall be delivered for trial-run in Guangdong starting from July 2015, upon which the telecommunication operator will swiftly extend its reach to 31 provinces across the country. Leveraging on the huge clientele of the telecommunication operator, the expansion of the Group's future income source is expected.
During the launch ceremony and press conference on 18 March 2015, the telecommunication operator announced its plan to select over 20 million users from its more than 70 million bandwidth users for the promotion of standard intelligent household DIY sets, involving an amount of approximately RMB16 billion based on the price of RMB799 per set. Besides, the telecommunication operator also plans to sell the full range of intelligent household products and value-added auxiliary services at its 30,000 outlets across the country.
Stable network connection and a slick control are crucial for the development of intelligent household. The well-known telecommunication operator has been famous for its steady and safe internet services. Together with its quality 4G FDD-LTE (frequency-division duplexing) network that enables high-speed data communication, the cooperation is going to enhance the quality of the overall decoration of intelligent household service in order to realize household intelligence consolidation and improve customers' satisfaction.
In addition to the recognition of a telecommunication giant in China, the Group also receives solid support from the Chinese government. At the "3.28 Investment Forum" held in Zhongshan on 28 March 2015, the Zhongshan government clearly stated that it would provide enormous support to the intelligent household industry. The government intends to approve the establishment of an "intelligent household industry's base" in Zhongshan in order to accommodate Gaoli and its customers, including the massive orders for the intelligent household products of the famous telecommunication operator. The progress is believed to provide powerful support for the thriving of the Group's intelligent household business. Meanwhile, the Zhongshan Smart Household Fund LP, co-founded by the Group and Shenzhen Munsun Asset Management Limited, will serve as a solid capital base for our business.
Dr. Kaneko Hiroshi, Chief Executive Officer and Executive Director of China Household, said, "With Chinese people's life quality improving, they are looking for more distinguished living experience, so the intelligent household service with high price-to-performance ratio is going to be the development trend for the overall decoration services. We will continue to devote ourselves to combining overall decoration and smart household life, and strive to become the leader of the intelligent household sector."
Contact:
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Topic: Press release summary
Source: China Household Holdings Limited
Sectors: Daily Finance
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