DIT Group Limited (0726.HK)

[StockpickerCAPC]

DIT Group and Glodon officially commenced strategic cooperation.

Source
http://dit.aconnect.com.hk/document/press/pressEN_220506.pdf

6 May 2022, Hong Kong

DIT Group Limited (SEHK stock code: 726), an innovative high-tech company specializing businesses in the whole value chain of prefabricated construction (“PC”) in the People’s Republic of China (“PRC”), is pleased to announce the latest update on the strategic cooperation with Glodon Company Limited (SZSE stock code:002410).

Recently, the Group and Glodon have jointly developed a digital production management system (PMS) on smart construction sites for prefabricated construction, and implemented it in the EMPC general contracting projects. Additionally, in terms of construction costing, both parties have improved the Quick Quotation System (QQS) of the prefabricated construction with Glodon’s traditional advantages, formulating market linkages and cooperatively expanding the market.

In 2021, Glodon completed the Share Subscription of DIT Group. Glodon subscribed 9.67% of issued share capital of DIT Group at HK$0.96 per share, becoming the second largest shareholder and injecting HK$288 million to the Group. In which, HK$90 million will be used in digitalization and software development related to the construction industry while the remaining will be used in the operation of 19 self-operated plants.

Glodon is a leading company specializing in the field of construction engineering informationization in China. It provides several businesses including design, costing, construction, operation, maintenance, procurement and landscaping, as well as areas in finance, college, investment, merger and acquisition. Its business also covers software tools, solutions, big data, mobile application, cloud computing, smart hardware equipment and industrial financial services.

DIT Group’s chief executive officer and executive director Guo Weiqiang said, “We are grateful that our strategic cooperation with Glodon has officially started, marking a new milestone in the Group’s digital transformation. We will jointly develop an industrial vertical integration platform with our industrialization technology system, along with Glodon’s digital construction solution. Looking forward, we will base on the SaaS and internet platform in prefabricated construction, centering on ‘industrialization + digitalization’ in construction industry, as well as macro-strategies such as digitalization proposed in 14th Five-Year Plan, carbon emission peak, carbon neutrality and construction transformation, to achieve transformation and upgrade in the entire chain of the construction industry.”