Asiaray Granted Exclusive Concession Rights to Operate Media Resources of the Hangzhou Metro Line 5
Further Expands Business Footprint Nationwide in Metro System
Creates End-to-end Media Exposure Strategy
HONG KONG,Dec. 4,2018 -- Asiaray Media Group Limited ("Asiaray" or the "Group"; stock code: 1993),a leading out-of-home ("OOH") media company with a strategic focus on airport and metro line advertising,is pleased to announce that Shanghai Asiaray Advertising Company Limited ("Shanghai Asiaray"),its indirect wholly-owned subsidiary,has entered into an advertising resources operation contract (the "Contract") with Hangzhou MTR Corporation Line 5 Limited ("Hangzhou Metro Line 5"). Pursuant to the Contract,Shanghai Asiaray has been granted the exclusive concession rights for selling,operating and maintaining the advertising resources located at the Hangzhou Metro Line 5.
Benefiting from the fast-growing Internet and tourism-related industries,Hangzhou has become a key transportation hub in the People's Republic of China (the "PRC") and a main connection to the rest of the country. As the city's fourth metro line,the Hangzhou Metro Line 5 is a highly modernized metro system currently spanning across 51.5 km with 38 stations,including 16 interchange stations. It penetrates seven key urban districts in Hangzhou and passes through the city's core regions. Nearly half of these stations are located in main districts covering prime locations conveniently connected to urban areas,including stations where offices of renowned enterprises are situated,such as the headquarters of Alibaba,NetEase and Huawei. The Hangzhou Metro Line 5 is expected to commence operation in second half of 2019,further expanding its coverage within Hangzhou's metro line system.
Mr. Vincent Lam,Chairman,Chief Executive Officer and Executive Directorof Asiaray,said,"Over the years,Asiaray has been committed to providing professional and innovative outdoor advertising solutions aiming to expand our business scope. Apart from granting the exclusive concession rights to operate media resources of the Express Rail Link in Hong Kong and the Hong Kong-Zhuhai-Macao Bridge this year,we are pleased to award the exclusive advertising operation right of the Hangzhou Metro Line 5. This will further penetrate Asiaray's exposure among the metro system and,at the same time,marks another step towards our mission. Together with the existing exclusive concession rights to operate the advertising media resources in Hangzhou Metro Line 2 and 4,we believe it can create an end-to-end media exposure strategy to capture the vast volume of commuters. We are also very confident of seizing more opportunities and expanding our business footprint in Mainland China riding on our experience in operating metro media resources and our unique 'Space Management' model going forward."
Upon the commencement of the Hangzhou Metro Line 5 granted this time,the Group will be providing advertising services for 17 metro lines and 31 airports across 35 cities in the PRC. The Group has always been focusing on providing advertising media services for metro system and airports,the addition of Hangzhou Metro Line 5 will be consistent with and complementary to the Group's development plans to expand its market coverage in the PRC.
About Asiaray Media Group Limited (stock code: 1993.HK)
Established in 1993,Asiaray is a leading out-of-home media company in Greater China with a strategic focus on airport and metro line advertising. The Group has exclusive concession rights to mainstream media resources for 31 airports (as well as Sanya Phoenix International Airport Terminal 2,Hainan) and 17 metro lines in 35 cities. It is the largest privately-owned media company in Greater China based on the number of exclusive concession rights and associated revenue derived in respect of airports,and the second-largest with regard to metro lines based on the same criteria. Annual aggregate airport passenger traffic covered by the Group's exclusively operated airports reached 228 million as at the end of 2017,equivalent to approximately one fifth of the total airport traffic across Mainland China. Asiaray is also committed to invest in its corporate social responsibility and environmental protection initiatives. The Company has officially been awarded "Hong Kong Awards for Environmental Excellence (HKAEE)" in 2016 and 2017,named as a "Hong Kong Green Organisation" and named "Caring Company" for Tenth Consecutive Year .
For more details about Asiaray,please visit its official website: www.asiaray.com or follow the Group's Wechat(ID: asiaray_airport).
