(Yicai Global) Sept.14 -- Shenzhen Hive Box Technology Co. acquired 100 percent shares of Shenzhen CIMC E-Commerce & Logistics Technology Co. for CNY810 Million (USD123.7 million).

Shenzhen Hive Box first acquired 78 percent shares of Shenzhen CIMC E-Commerce indirectly held by China International Marine Containers (Group) Co. [SHE:000039] for CNY630 million. It then acquired 22 percent shares of CIMC E-Commerce held by another enterprise. The total consideration reached CNY810 million (USD123.7 million). Hive Box will hold 100 percent shares of CIMC E-Commerce after the deal is finalized.

Mainly engaged in the research, development and operation of e-box smart delivery lockers, CIMC E-Commerce has released a total of 14,000 sets of delivery locker in Beijing, Shanghai, Guangzhou and Shenzhen with nearly 800,000 packages delivered each day.

Hive Box has released 60,000 sets of delivery locker in 74 medium and large-sized cities across China with over 4 million packages delivered each day. After this acquisition, the number of delivery lockers owned by Hive Box will climb to 74,000 sets. The market share of Hive Box in Beijing, Shanghai, Guangzhou and Shenzhen is expected to reach 70 percent by the end of this year.

Hive Box Technology is an affiliated company of S.F. Holding Co. [SHE:002352] that is engaged in the provision of integrated express logistics services.