STEC Signed Strategic Cooperation Agreement with GREE

2019-02-19

On October 27, 2017, the strategic cooperation signing ceremony between Zhuhai Gree Group and STEC . will be held in Shanghai Urban Construction Mansion, the two sides will establish a comprehensive strategic cooperative partnership. As the independent legal person fully funded and authorized by Zhuhai SASAC, GREE has formed a comprehensive development pattern of industry, island tourism and real estate taking GREE electric appliances as the core. Zhuhai Jianan Group Co., Ltd., a wholly-owned subsidiary, is the only first level company of general contractor with the support of Zhuhai SASAC, which has qualifications on 1-level general contractor of building construction engineering, 1-level general contractor of municipal public engineering, etc. STEC . is the first professional company to develop and apply shield tunneling technologies in China and also one of the most professional and potential construction enterprises in China. In recent years, the company has succeeded in changing from the traditional general contractor to design and construction general contractor and general integrator of the projects. It invested and constructed Ningbo Changhong Tunnel, Shanghai Dalian Road Tunnel, Hangzhou Qianjiang Channel, South Kunming Line, Nanjing Metro-airport Line and a number of major infrastructure projects. The two sides will promote all-round, wide-ranging and in-depth exchanges and cooperation, jointly explore the market, and contribute to infrastructure construction and urban operation services in south China.

The signing of the strategic cooperation agreement has three implications. Firstly, Zhuhai SASAC and Shanghai SASAC implement the guiding opinions of the Party Central Committee and the state council on deepening reform of state-owned companies, and local companies actively participate in exploring the equity diversification of state-owned companies to enhance the vitality of enterprise development. Secondly, it is conducive to comprehensively integrate the market, qualifications, technology, talents and other resources of both sides to exert synergistic effects. Thirdly, STEC . will march in the south China market with high starting level, which can provide strength in exploring regional markets.

Zhang Yan, Party committee secretary and chairman of STEC pointed out that the company should think from the perspective of urban development with full strength in the early planning stage. This requires us to think ahead, plan ahead, and grasp development trends in areas such as unmanned driving. We should provide services for urban planning and development through cooperation with government think tanks outside the construction of projects. At the same time, we need to put innovations into practice, better integrate the products created by scientific research technologies into engineering practice, and turn scientific research into actual benefits.