HONG KONG, Dec. 27, 2013 /PRNewswire/ -- Clear Media Limited ("Clear Media" or the "Group"; SEHK Stock Code: 100), one of the leading outdoor advertising companies in China listed on The Stock Exchange of Hong Kong, is delighted to announce that on 25 December 2013, the Nanjing Public Transport (Group) Limited had awarded Hainan White Horse Advertising Media Investment Co., Ltd, a subsidiary of Clear Media, certain concession rights to develop, manage and sell advertising panels located at bus shelters in the city of Nanjing, China, for a period of 10 years commencing 2014.
Clear Media has been an operator of bus shelter advertising panels in Nanjing since 1999. The Group currently operates in the city more than 1,300 bus shelter advertising panels. Under the new arrangement, Clear Media will be able to significantly expand the number of panels under its management in the city.
Mr. Mark Thewlis, Executive Chairman of the Group, said, "We are grateful the Nanjing Public Transport (Group) Limited has placed their trust in us to deliver our quality bus shelters and reliable maintenance services for the benefit of commuters in Nanjing. We will be constructing new bus shelters designed specifically for Nanjing early next year to meet the increased advertising demand driven by Nanjing's hosting of the '2014 Youth Olympic Games' in August."
Mr. Han Zi Jing, Chief Executive Officer of the Group, said, "Clear Media operates the most extensive standardized bus shelter advertising network in China. Of the 27 cities we currently operate in, Nanjing is among our fastest growing markets. Being awarded these concession rights secures and strengthens our product offerings to our customers for the years to come. We will continue to take necessary steps to enhance our leading position in the outdoor advertising market in China with a view to enhance returns to our shareholders."
