On February 11, China Resources Cement Holdings Limited and China State Construction Engineering (Hong Kong) Limited (“China State Hong Kong”) entered into a strategic cooperation framework agreement in Shenzhen. On behalf of the respective parties, the agreement was signed by Mr. Li Baojun, the Vice President of CR Cement, and Mr. Wang Xiaoguang, the Vice President of China State Construction International Holdings Limited, in the presence of Mr. Ji Youhong, the Chief Executive Officer of CR Cement, as well as Mr. Zhang Haipeng, the Executive Director and Chief Executive Officer of China State Construction International and the Chairman of China State Hong Kong.

This cooperation is an important measure for CR Cement to promote strong alliance between state-owned enterprises, as well as strengthen and consolidate the strategic position within the Guangdong-Hong Kong-Macao Greater Bay Area during the “Fourteenth Five-Year” period. According to the agreement, both parties will carry out all-round and in-depth business cooperation around their respective core businesses and industry chain in areas with strong relevance and complementarity in Hong Kong. Based on the principles of “long-term goals, mutual benefits, win-win cooperation, and common development”, and in accordance with each other’s advantages and characteristics, the two parties will launch cooperative businesses through business chains with common needs as the starting point. Meanwhile, with the main purpose of “scientific, harmonious and sustainable development”, the two parties will refine and expand the mode and scope of cooperation according to their development needs in order to promote exchanges and development, as well as improve the market competitiveness of both parties. 

During the signing ceremony, Mr. Ji Youhong expressed his gratitude towards China State Construction International for the close exchanges and cooperation in the past few years and introduced CR Cement’s “Fourteenth Five-Year” Plan in detail. Mr. Ji mentioned that CR Cement had achieved breakthroughs in the development of aggregates, prefabricated construction, engineered stone, tile adhesives, white cement and other businesses in the Guangdong-Hong Kong-Macao Greater Bay Area, and has sufficient capacity to ensure supply of all kinds of basic construction materials. CR Cement therefore will actively coordinate the Company’s resources in the future to provide all-round, multilayered and effective support to China State Construction International in order to continuously enrich the connotation of the strategic cooperation between the two parties. At the same time, he expressed his wish to seek common development and sincere cooperation together in the future, consolidate the existing cooperation achievements in the end market while extending to areas such as logistics services and new product development and jointly carry out comprehensive cooperation in Hong Kong businesses.

China State Hong Kong Chairman Mr. Zhang Haipeng expressed his thankfulness to CR Cement for the long term trust and support that has been offered to China State Construction International. He mentioned that after sufficient communication and deepening mutual trust at the early stage, both parties have laid a solid foundation for the cooperation. He hoped that the two companies will take this cooperation as an opportunity to cooperate pragmatically in areas such as green and low-carbon business, prefabricated construction and building materials, establish a long-term communication mechanism, strengthen business synergy and complementarity, and promote more cooperation achievements and high-quality projects so as to realize mutual benefits as well as strong alliance.

The persons-in-charge of relevant departments, business divisions and subsidiaries of CR Cement, as well as the persons-in-charge of the investment department and marketing department of China State Construction International, China State Hong Kong, China State Construction International Investments and China State Construction Overseas attended the meeting and signed the cooperation agreement. 

Please refer to the Chinese version for more details.

The signing of the strategic cooperation agreement

CEO Ji Youhong's speech

China State Hong Kong Chairman Mr. Zhang Haipeng's speech

Different video meeting points