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SHENZHEN, China, Dec. 24, 2024 /PRNewswire/ -- In the process of globalization and international market competition, Chinese enterprises face various opportunities and challenges. After years of engaging in bulk trade and supply chain services, BAIYU Holdings Limited has successfully accumulated a large number of high-quality overseas customers and suppliers. Leveraging its accumulated strength, the company is now embarking on a multifaceted global expansion into new sectors.
In December 2024, BAIYU Holdings, Inc. signed an agreement with Adler International Ltd., an Egyptian company, to construct a renewable energy free-trade zone and logistics park in Egypt. The agreement outlines plans to establish a renewable energy industry free-trade zone in Cairo, Egypt, covering an area of approximately 10,000 mu (a traditional Chinese land measurement unit, approximately equal to 666.67 hectares or 1,640 acres), and to build a bonded warehouse and logistics park covering about 3,000 mu (approximately 200 hectares or 494 acres) in the Port of Alexandria or other nearby dock areas in Egypt.
The Egyptian government has granted autonomous preferential policies to the park, designating both the new energy industrial park and the logistics park as bonded free-trade zones. Additionally, the Egyptian government offers incentives for the introduction of high-level talent and the training of local talent.
Beyond the establishment of the new energy free-trade zone and logistics park, BAIYU Holdings will also provide full supply chain procurement services for new energy vehicle manufacturing. The vehicles produced can be exported to Egypt and surrounding countries and regions, such as Africa, Europe, the Middle East, and the Mediterranean, with an annual market demand of nearly 200,000 vehicles.
This initiative will also lead the landing of charging pile and lithium battery industries in Egypt, with production, manufacturing, and market sales conducted in Egypt under the company's own brand.
About BAIYU Holdings Limited
BAIYU Holdings, Inc. was incorporated in Delaware in December 2011. Initially, the company's primary business was providing lending and financial guarantee services to small and medium-sized enterprises or individuals, and it also developed operations and leasing services for used luxury cars in China. In 2020, through an asset reorganization, the company's main business was transformed into commodity trading and supply chain services. Building on this core business, the company has expanded into the renewable energy sector, encompassing the research and development, production, and sales of energy storage power supplies and lithium batteries, the construction and operation of charging and battery-swapping stations, and integrated services, as well as the dismantling of used cars and the sale of auto parts. Adhering to the development philosophy of "Innovation, Integrity, and Excellence," the company continues to deepen its presence in the renewable energy industry, striving to create more competitive environmentally friendly and energy-saving products for the markets it serves and enhancing its brand reputation. For more information, please visit www.baiyuglobal.com.
For more information, please contact:
BAIYU Holdings, Inc.
Investor Relations Department
Email: [email protected]
