Summary by Futu AI
Reitar Logtech Holdings announced securing a Letter of Award for upgrading the fire protection system of a smart logistics center at Hong Kong International Airport. The contract, valued at approximately HK$231 million (US$29.6 million), represents about 91.7% of the company's revenue for the fiscal year ended March 31, 2024.The project aims to enhance the 12-story logistics center's 4.1 million square feet rental area, improving its compatibility with automation upgrades and meeting growing demands of logistics users. This strategic location near the Hong Kong-Zhuhai-Macao Bridge serves as a key logistics hub in the Greater Bay Area, strengthening cross-border trade connections.Reitar, a pioneer in Property + Logistics Technology solutions, views this project as an opportunity to demonstrate its innovative strength and market leadership in Hong Kong's smart logistics field. The company aims to redefine smart logistics standards and consolidate its position in the market through this significant contract.