The U-Freight Group has signed a strategic cooperation agreement with Shanghai Hongyu Supply Chain Management Co, which has a strong presence in China’s medical and healthcare sectors.
The two companies will combine their expertise to create a global one-stop medical supply chain service to provide more choices in managing the supply chains of medical and health care devices, as well as more integrated distribution and fulfilment operations worldwide.
The cooperation will see the two companies share their resources to develop complementary domestic and foreign supply chain management networks, incorporating transportation, storage and associated logistics services.
The move is expected to stimulate local manufacturers and traders to capitalise on global opportunities, as well as foreign health and medical device businesses to enter the Chinese market. Shanghai Hongyu Supply Chain Management will leverage UFL’s global network and 55 years of experience in cross-border warehousing and logistics services to accelerate its development in the niche sector globally.
Jacky Cao, general manager of Shanghai Hongyu Supply Chain Management, noted the partnership’s focus on reducing logistics costs associated with production, distribution and international expansion, which has been discussed at the government level.
“I firmly believe that through the cross-border integration of the logistics and procurement activities of UFL and Shanghai Hongyu Supply Chain Management, we will create even greater values, set an example in this niche sector, and drive industry development.”
The alliance between the two companies will be comprehensive, encompassing not only traditional trade, but also e-commerce and other avenues.
Simon Wong, UFL’s CEO, shared that the company’s history has always been based on leveraging the benefits of cooperating with like-minded logistics businesses, rather than competing with them.
“In markets where we don’t have our own operation, we have developed exclusive partnerships with regionally strong businesses. Some of these alliances are over 40 years old,” he noted.
