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IDG Energy Investment and JUSDA Form a Joint-Venture Company To Launch Independent LNG Logistics Business

(September 26, 2018)


EQS-News / 26/09/2018 / 10:07 UTC+8

For Immediate Release September 25, 2018

IDG ENERGY INVESTMENT LIMITED
IDG ??????
*
(Stock code: 650.HK)

IDG Energy Investment and JUSDA Form a Joint-Venture Company
To Launch Independent LNG Logistics Business



IDG Energy Investment Limited and JUSDA Supply Chain Management International CO., LTD ("JUSDA"), a Foxconn subsidiary who is committed to provide leading supply chain solutions to customers through advanced technology, creates a joint venture to provide logistic solutions of transporting Liquefied Natural Gas ("LNG") including using LNG ISO Container.
The newly formed JV will be dedicated to providing independent LNG logistics services to the industry and enable end users to purchase LNG around the globe.
JUSDA Energy has helped buyers in China to buy LNG directly from Canada and the first batch of LNG ISO Tanks will arrive in Shanghai in early October.
 

(September 25, 2018 - Hong Kong) IDG Energy Investment Limited ("IDG Energy Investment" or the "Company", stock code: 00650.HK;) is pleased to announce that the Company, through one of its wholly-owned subsidiaries, has entered into the Agreement for a Joint Venture (the "Agreement") to form Shanghai JUSDA Energy CO., LTD. ("JUSDA Energy" or "JV"), with JUSDA and the management team (the "Management"). Pursuant to the Agreement, all parties agree to invest up to RMB500 million into the JV, of which the Company, JUSDA, and the Management agree to contribute 39%, 51%, and 10% respectively. JUSDA Energy's first batch of LNG ISO Tanks have departed from Vancouver, Canada and will arrive in Shanghai in early October.

JUSDA Energy will enable customers to buy and transport LNG globally with a strong emphasis on independency, reliability and cost-effectiveness
JUSDA Energy will initially focus on providing logistic services on LNG transportation using ISO containers. It has already helped buyers in China to purchase LNG directly from Canada for the first batch. This will demonstrate JUSDA Energy's ability to provide independent, safe, and high-quality professional LNG logistics services. JUSDA Energy is well prepared to help China to source natural gas supply globally to meet rapidly growing need especially in the coming peak season in winter.

China will have a strong need of distributing LNG using LNG ISO Containers
China has become the world's second largest market for LNG imports. The coal-to-gas switching has resulted in a huge increase in demand for natural gas. In 2017, 39% of China's natural gas consumption comes from imports and LNG imports account for 57% of total natural gas imports, reaching 38 million tons. China's LNG liquid distribution reached 21.3 million tons in 2017 and will exceed 30 million tons in 2020 according to SIA Energy. JUSDA Energy believes ISO containers will be a safer and more cost-competitive way to transport LNG versus currently used trucking model. Last year, the National Development and Reform Commission, SASAC, and the Ministry of Transport collectively proposed policies to encourage LNG ISO tank multi-model transport.

Also, compared to traditional LNG terminal import model, LNG ISO tank could utilize existing port infrastructure to import LNG and serve as a temporary storage to quickly react to market imbalance. JUSDA Energy believes LNG ISO tank is an important supplement to traditional LNG import model.

Mr. LIU Zhihai, President of IDG Energy Investment, commented: "The formation of the JV reflects our synergy with and support from Foxconn, the second largest shareholder of IDG Energy Investment. JUSDA, as Foxconn's sole supply chain enterprise, maintains a wide container transportation network and a strong bargaining position that will support JUSDA Energy's logistics services and help to reduce costs. Likewise, as a global high-quality energy investor and asset manager, IDG Energy Investment has an abundant network of gas sources across the North America and the Asia Pacific Region, which will help JUSDA Energy scale rapidly."

- End -

About IDG Energy Investment (Stock Code: 650.HK)
IDG Energy Investment is primarily engaged in the investment in and management of global energy assets. The Company is currently capitalizing on investment opportunities arising from China's growing demand for imported natural gas and the emerging North America liquefied natural gas ("LNG") export market resulting from abundant, low-cost shale gas supply. The Company has been making critical strategic investments throughout the LNG value chain, including investing in China's first non-state-owned LNG receiving terminal, one of the largest Canadian LNG export terminals under development, and a fully permitted greenfield LNG export terminal in the United States (the "U.S."). The Company's other energy assets include an upstream crude oil block in China, and a world-class shale oil block in Eagle Ford, Texas.

With strong shareholder support, mature investment strategies, sophisticated cross-border transaction capabilities, and in-depth knowledge of the global energy market, IDG Energy Investment has positioned itself to capture the industry momentum from China's energy structural reform and dynamic changes in the global natural gas market. The Company is committed to becoming the best cross-border energy assets investment manager in the region.

For further information, please refer to IDG Energy Investment's website:
http://www.idgenergy.com

About JUSDA
JUSDA, a service platform of supply chain management for Foxconn Technology Group and a pilot in integrating B2B supply chain services around the world, is committed to driving professionalism and growth of supply chain management by advanced technology and R&D. The company applies an innovative business model that covers trading flow, goods flow, information flow, capital flow, technology flow and process flow.

JUSDA realized the end-to-end collaborative operation of smart logistic system platforms with the integration information network of big data analysis, cloud platform construction, and Internet of Things, JUSDA has built a smart supply chain real-time collaborative platform based on DT big data operation in the Industry 4.0 technology era.

With the outstanding global supply chain management experience, JUSDA has been certified with the national AAAAA integrated logistic enterprise qualification, AEO enterprise advanced certification, ISO9001, NVOCC, and World Cargo Alliance. JUSDA has become a significant business partner to more than 3,000 3C component manufacturers and customers around the world and serves more than 1,000 well-known brand customers.

For further information, please refer to JUSDA's website:
https://www.jusdascm.com/index.aspx

About the Management
Mr. Mei Zulin is the CEO of JUSDA Energy and leads the management team. Previously he served as General Manager of Shanghai Sinochem JN Energy Limited* (??????????????), a former LNG arm of Sinochem International Corporation (????(??)??????). Mr. Mei has over 17 years of experience in transportation and logistics industries, having served various business and senior management positions at Shanghai Dazhong Transportation (Group) Co., Ltd.* (????????(??)????), Liangyou Xingang Storage and Transportation Limited of Shanghai Liangyou (Group) Co., Ltd.* (????????????????) and Sinochem International Logistics Co., Ltd.* (??????????????).

This press release is issued by Financial PR (HK) Limited on behalf of IDG Energy Investment Limited. For further information, please contact:

IDG Energy Investment
Media Contact: Ms. Lydia Zhong Email: lydia_zhong@idgenergy.com
Tel: (852) 3903 1325
Business Contact: Mr. Xiang Hao Email: xiang_hao@idgenergy.com
Tel: (852) 5825 7660

Financial PR (HK) Limited

Mr. Tim Yue Email: timyue@financialpr.hk
Ms. Dawn Lee Email: dawnlee@financialpr.hk
Ms. Canace Xie Email: canacexie@financialpr.hk
Ms. Vivienne Wang Email: viviennewang@financialpr.hk
Tel: (852) 2610 0846
Fax: (852) 2610 0842


Document: http://n.eqs.com/c/fncls.ssp?u=NKJQEWVHUP
Document title: IDG Energy Investment and JUSDA Form a Joint-Venture Company To Launch Independent LNG Logistics Business

26/09/2018 Dissemination of a Marketing Press Release, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

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