EDA Group Holdings (02505) plans to acquire a real estate investment company specializing in logistics real estate investment and property management in the Republic of Indonesia

According to Zhitong Finance App, EDA Group Holdings (02505) announced that on January 7, 2025, PT Flexlogis Investment Indonesia, an indirect wholly-owned subsidiary of the company, and Flexlogis Private Limited intend to acquire the total number of issued shares of the target company PT Samanea Logistics Property at a cost of approximately RMB 6,179,146.

After completion, the target company will become an indirect wholly-owned subsidiary of the company, and the target company's financial results will be comprehensively recorded in the company's financial statements.

According to reports, the target company (a limited company established under the laws of the Republic of Indonesia) is a real estate investment company specializing in logistics real estate investment and property management in the Republic of Indonesia. The target company currently has two warehouses in Tangerang, the neighboring capital of Indonesia, Jakarta. One warehouse covers an area of 5,000 square meters and is 12 meters high; the other one covers an area of 10,000 square meters and is 17 meters high.

In order to cope with the rapid development and future expansion of the Group's business, the Group plans to have its own logistics and warehousing properties to drive the growth of its business in the Republic of Indonesia. The director sees the acquisition of the target company as a strategic move aimed at strengthening its end-to-end logistics solutions while improving supply chain efficiency in a rapidly growing market. Considering Indonesia's strategic location in Southeast Asia, as well as its continuously expanding e-commerce sector and increasing demand for efficient logistics services, the directors believe that it is in the company's interest to enter into a sales agreement. This investment not only directly strengthens the Group's global warehouse network, but also allows the company to better prepare for future logistics and warehousing property investments, thereby more effectively meeting the growing needs of the Indonesian market, thereby promoting and enhancing the region's development and competitiveness.