HONG KONG, June 1, 2017 /PRNewswire/ -- Asiaray Media Group Limited ("Asiaray" or the "Group"; stock code: 1993.HK), a leading out-of-home media company with a strategic focus on airport and metro line advertising, is pleased to announce that it has entered into an exclusive advertising media operation contract (the ''Contract'') with Hangzhou Metro Group Company Limited (the ''Hangzhou Metro'') via Shanghai Asiaray Advertising Company Limited (''Shanghai Asiaray''), an indirect wholly-owned subsidiary of the Group. Pursuant to the Contract, Shanghai Asiaray is granted the exclusive concession rights to operate the mainstream advertising media of Phases 1 and 2 of Hangzhou Metro Line 2 and Phase 1 of Hangzhou Metro Line 4. The Contract will commence on 1 June 2017 and expire on 31 December 2022, with the option to extend for an additional three years from 1 January 2023.
Hangzhou Metro operates a highly modernized metro system currently spanning 117 km with 33 stations in Phases 1 and 2 of Line 2 and 18 stations in Phase 1 of Line 4. Benefiting from the burgeoning Internet and tourism related industries, Hangzhou is a key transportation hub in the PRC and a main connection to the rest of the country.
Mr. Vincent Lam, Chairman and Executive Director of Asiaray, said, "Hangzhou is renowned for its scenery for a flourishing tourism industry and the home of world-class Internet companies. We are delighted to have obtained the exclusive concession rights of two metro lines in this city to further extend our media resources portfolio and capture the business opportunities there. The Contract enables us to leverage the existing resources in Hangzhou Xiaoshan International Airport to create an end-to-end media exposure strategy to capture the vast volume of commuters. We have been focusing on providing media services for metro lines and airports, and the addition of Hangzhou metro Lines 2 and 4 is definitely in-line with the Group's development plans to expand its market coverage. Moving forward, we will continue looking for new corporation opportunities and optimizing our existing media resources to create greater value for our shareholders."
About Asiaray Media Group Limited (stock code: 1993.HK)
Established in 1993 and listed on the Main Board of The Hong Kong Stock Exchange in 2015, Asiaray is a leading out-of-home media company in Greater China with a strategic focus on airport and metro line advertising. It is currently ranked first among privately-owned media companies in terms of number of airports and second in terms of number of metro lines with exclusive concession rights to mainstream media resources and revenue in Greater China. Through its constant efforts in expanding media resources with strategic value, the Group has now secured exclusive concession rights of mainstream media resources at 27 airports (as well as Sanya Phoenix International Airport Terminal 2, Hainan) and 16 metro lines. Currently, the annual aggregate passenger traffic of all airports covered by the Group reached 248 million as at the end of 2016, approximately one-fourth of all the airports across Mainland China. In August 2016, Asiaray was also appointed as the exclusive advertising agency of FIA Formula E at the Central Harbourfront, Hong Kong. With an extensive nationwide network of media resources covering 38 cities in Greater China, the Group leverages its well-developed space management model to deliver integrated, creative out-of-home media solutions to renowned and diverse advertising customers. Asiaray is also committed to invest in its corporate social responsibility and environmental protection initiatives. The Company has officially been awarded "2016 Hong Kong Awards for Environmental Excellence (HKAEE)" and named the "Hong Kong Green Organisation". For more details about Asiaray, please visit its official website: www.asiaray.com.
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