WUHAN, China, Feb. 22, 2018 /PRNewswire/ -- SSLJ.com Limited
(NASDAQ: SSLJ) (the "Company" or SSLJ), a vertically
integrated O2O home decoration service and product provider in
China, announced today that the
Company has entered into a strategic cooperation agreement (the
"Agreement") with Tianmen Han Da Technology Co., Ltd. ("Han Da"), a
leading construction and e-commerce platform company in
China, on February 22, 2018 (the "Effective Date"). Han Da
also awarded the Company a RMB110
million (US$17.3 million)
contract for the decoration design and construction of Han Da's
Tianmen commercial project. Pursuant to the Agreement, SSLJ is now
the featured contractor to handle the decoration design and
construction of Han Da's projects including the Tianmen commercial
project. The total construction and decoration area of the Tianmen
commercial project of up to 110,000 square meters includes 724
luxury residential units, 30 ground floor stores as well as a
8,000-square-meter-large Agricultural Products Exhibition
Center. The Tianmen commercial project is tentatively scheduled to
commence prior to June 30, 2018.
Han Da is a construction and e-commerce platform company that
covers various practices including but not limited to, real estate
development and sales, the purchase and sale of construction
materials, housing rentals, consulting for real estate
transactions, planning and promotion, project planning and design
consulting, and investment in urban infrastructure, public
facilities and urban roads.
Many of Han Da's projects
have achieved industry benchmark status in China, such as the Number Zero Yard and
Agricultural Products Exhibition Center. In the initial phase of
the Number Zero Yard project, the construction and decoration of a
total of 110,000 square meters' project has been entrusted to SSLJ.
The second phase of the Number Zero Yard project covers an area of
100 mu (16.5 acres). All interior design and construction projects
covering 1,350 residential units with up to 170,000 square meters'
area will also be handled by
SSLJ. According to the Agreement, the estimated entire value of the
Number Zero Yard projects will reach RMB170
million (US$26.8 million).
Pursuant to the Agreement, SSLJ agreed to pay Han Da
RMB40 million (approximately
US$6.3 million) in the form of a
refundable deposit (the "Deposit") on or no later than March 2, 2018 and Han Da agreed to refund the
Deposit in full by May 31, 2018, with
an interest rate of 18% per annum. After Han Da receives the
Deposit, it will provide to the Company real estate assets of
equivalent value to the Deposit (subject to the market price on
Effective Date) as provided in the Agreement to ensure the
successful commencement of the cooperation.
Mr. Wei Zheng, Chairman and Chief
Executive Officer of SSLJ.com Limited, stated, "We are excited to
work with Han Da and to share Han Da's extensive experience in real
estate development as well as capital market operations for our
market expansion. We believe this partnership will be beneficial to
both of our brands and
allow us to leverage the respective strengths of our
platforms."
About SSLJ.com Limited
SSLJ.com Limited is a pioneer
in the vertically integrated O2O home decoration service and
product market with one of the largest market shares in
China. The Company provides
customers with a convenient, full-service, one-stop solution for
their homes' interior decoration and improvement needs by offering
consulting, design, construction, and furnishing services as well
as modern, high-quality and high-tech products. The Company has 9
branch companies and 12 sales offices in 10 cities, which are
Beijing, Shanghai, Shenzhen, Wuhan, Suzhou, Hefei, Zhengzhou, Tianjin, Chengdu, Xi'an. For more information, please visit
http://www.sslj.com/.
Forward-Looking Statements
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
For more information, please contact:
SSLJ.com Limited Contact:
Ms. Wing Chuen Rhoda Lau, CFO
Phone: +8627-8366-8638
Email: ir@sslj.com
Investor Contact:
Ms. Tina Xiao, President
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
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SOURCE SSLJ.com Limited