HONG KONG, July 28, 2016 /PRNewswire/ -- Asiaray Media Group Limited ("Asiaray" or the "Group;" stock code: 1993), a leading out-of-home media company with a strategic focus on airport and metro line advertising, announced that it has obtained the exclusive concession rights to operate the mainstream media resources of Beijing Metro Line 16 operated by Beijing MTR Corporation Limited ("Beijing MTR"). The contract has further strengthened the partnership between Asiaray and Beijing MTR while increasing the number of metro lines where Asiaray holds the exclusive concession rights in Mainland China and Hong Kong to 12, thereby consolidating the Group's leadership in the Greater China metro advertising market.
Beijing Metro Line 16 is currently under construction. The exclusive concession rights contract of Beijing Metro Line 16 will run for a term of 3 years until 31 December 2019. The operation of the northern section of Line 16 is expected to commence on 1 January 2017, while the operation of the remaining section is expected to commence on 1 January 2019. The contract shall start from the commencement date of the operation. Asiaray has now obtained exclusive concession rights for media resources of three out of the four Beijing Metro lines operated by Beijing MTR, the other two being Beijing Metro Line 4 and Daxing Line.
Mr. Vincent Lam, Founder, Chairman and Chief Executive Officer of Asiaray, said, "We are honoured to be granted the exclusive concession rights to operate the mainstream media resources of Beijing Metro Line 16, which has cemented our cooperative relationship with Beijing MTR. The winning of this contract demonstrates Beijing MTR's recognition of Asiaray's capability in the out-of-home advertising business and also expands Asiaray's media portfolio located at metro lines. We look forward to building a long-term close partnership with Beijing MTR. Asiaray will continue to leverage our advantage in space management to provide innovative advertising solutions, strengthen our relationships with landlords, and optimise our media resources portfolio in the region, thereby achieving greater synergies and bolstering our leadership in the Greater China out-of-home advertising market."
Located in western Beijing City, Beijing Metro Line 16 is a 50-kilometer long main railway line designed to connect the northern and southern parts of the capital city. It will consist of 29 stations, of which 13 will be interchange stations, commuting through the heart of the city and to urban functional zones such as the Haidian Science Park district, Zhongguancun, Lize Financial Business District and Fengtai Science Park, serving millions of passengers every day.
Upon addition of Beijing Metro Line 16, Asiaray now owns the exclusive concession rights of media resources of 12 metro lines, including the premium advertising space of Shenzhen Metro Line 3 ("Longgang Line"), Shenzhen Metro Line 4 ("Longhua Line"), and four metro lines operated by MTR Corporation in Hong Kong, reaching several millions of metro passengers every day.
About Asiaray Media Group Limited (stock code: 1993)
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 secured exclusive concession rights to mainstream media resources at 27 airports and 12 metro lines as at 28 July 2016. With an extensive nationwide network of media resources covering 36 cities in Greater China, the Group leverages its well-developed space management approach to deliver integrated, creative out-of-home media solutions to renowned and diverse advertising customers. For more details about Asiaray, please kindly visit its official website: www.asiaray.com.
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