Shanghai: Shenzhen-listed China Shipping Network Technology has announced that it plans to use RMB51.58m of raised funds to acquire 100% equity of China Shipping Information System from sister company Shanghai Ship and Shipping Research Institute.
China Shipping Network Technology said the move is to strengthen the development of its shipping information platform and support the business diversification of China Shipping Group.
China Shipping Group signed a framework agreement with Chinese e-commerce giant Alibaba.com in July to create an integrated logistics platform which can be used for online logistics including price inquiry, online ordering, online settlement and online goods tracking. [10/12/14]
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