CTS made an announcement that it successfully acquired 70% of the equity share capital of Oriental Express Logistics Co., Ltd and HuaDa (HK) International Logistics Co., Ltd on August 22, 2019.

On October 31st, CTS held a high-level conference with Oriental Express Logistic at its Headquarters in Shanghai with attendance of the management team from both companies.

Mr. Chen Ping, Vice Chairman of Oriental Express Logistics, mentioned that, all staff of Oriental Express Logistics would work proactively, exploiting the International Postal Air Transport Market with full of passion. They would strengthen communication and business collaboration with all regions and business centers of CTS, and would work together to expand cooperative Air Freight Routes.

Mr. Chen Yu, General Manager of CTS, said that the current Air Freight industry structure was undergoing profound changes， while E-Commerce Logistics was developing vigorously, and our national logistics security received unprecedented attention from all parties.

We hoped that all the employees of Oriental Express Logistics would proceed with confidence, seize the opportunity, maintain strategic determination, adapt to the changes of the external environment, and enhance our core competitiveness consistently to make contributions to Chinese logistics companies "Going out".

We placed our hopes on the board of Directors and management team of Oriental Express Logistics and expected they would perform the duties correctly, diligently and responsibly，make full use of our advantages and promote high-quality development of the enterprise.