The joint venture will be set up in Shanghai with initial registered capital of RMB255m. The board of directors shall comprise five directors, of which two directors will be nominated by Gold Talent and Cosco Shipping Logistics jointly and three directors will be nominated by JD Logistics.
Meanwhile, Gold Talent is to acquire 42.35% equity stake in Eshipping from China Shipping Group. Eshipping, a supply chain management company, offers a platform to integrate international supply chain resources, including logistics, warehousing, courier, logistics financing, trading and other market resources, to provide small and medium-sized enterprises and cross-border retailers one-stop logistics services.
The establishment of the jv and the acquisition of Eshipping allows OOIL to leverage on JD Logistics’ advanced technology to gain wider exposure in the e-commerce segment and actual experience in handling both “business to business” and “business to customers” international e-commerce logistics, and to drive for future growth in these markets, said OOIL.