Geelong December 3rd | Loctek Ergonomic Technology Corp. (300729.SZ) announced that, in order to further enhance the company's competitiveness and accelerate the development of the company's public overseas warehouse business, the company's wholly-owned subsidiary, 6075 Lance LLC, intends to sign a construction contract for the 'Apple Valley Overseas Warehouse Project in California, USA' with ARCO National Construction Pacific Coast, LLC. The total construction price is estimated at $97 million USD (equivalent to approximately 0.7 billion RMB).
Investment purpose: Overseas warehouses are essential infrastructure for cross-border e-commerce. With the development of the cross-border e-commerce industry, the demand for overseas warehouses continues to increase. Expanding and strengthening the public overseas warehouse business is an important global strategy for the company. In the previous stage, the company has purchased approximately 5000 acres of land around core ports in the USA, where about 1.5 million square meters of overseas warehouses can be built. To leverage the advantages of self-built overseas warehouses and effectively reduce operating costs, the company will continue to advance the construction of overseas warehouses, optimize the layout of overseas warehouses, further improve the company's cross-border logistics system, enhance the core competitiveness of the company's public overseas warehouses, improve the company's performance, and enhance profitability.