YESASIA HLDGS: YESASIA Logistics has signed a robotics agreement and a renovation agreement with Geek Plus
YESASIA HLDGS announced that its wholly-owned subsidiary YESASIA Logistics has signed a robotics agreement and renovation agreement with Geek Plus, involving the design, supply, and installation of an automated warehouse system. The agreement includes Geek Plus providing equipment, services, and renovation works, with the new warehouse expected to be operational in April 2025 to enhance the group's distribution capabilities and support future business growth
According to the announcement from YESASIA HLDGS (02209), on November 6, 2024, YESASIA Logistics (a wholly-owned subsidiary of the company) entered into a robotics agreement and a renovation agreement with Geek Plus, respectively purchasing equipment and services from Geek Plus for the design, supply, and installation of the automated warehouse system at the Fengshu warehouse, as well as renovation services and engineering provided by Geek Plus to support the automated warehouse system. Given that YESASIA Logistics and Geek Plus need time to finalize the terms of the renovation agreement and to ensure Geek Plus's preparation work, YESASIA Logistics separately entered into quotations with Geek Plus on September 9, 2024, and October 14, 2024, for the ground leveling work and the installation of the shelving system.
Scope of the robotics agreement: Geek Plus will deliver goods to YESASIA Logistics and complete the installation of the automated warehouse system, providing one year of maintenance service; the renovation agreement involves YESASIA Logistics agreeing to appoint Geek Plus as the contractor for the renovation work at the Fengshu warehouse.
The announcement stated that YESASIA Logistics is leasing the Fengshu warehouse to advance its plan to establish an additional Automated Mobile Robot (AMR) warehouse. The board believes that entering into these agreements to establish an AMR warehouse at the Fengshu warehouse is in the group's interest, thereby increasing the group's distribution capacity to meet future business growth. The new AMR warehouse is expected to commence operations in April 2025
