Smart Globe (01481.HK) announced the acquisition of land adjacent to the Zambia and Congo (Kinshasa) border from an independent third party, Heng Qu, planning to develop a one-stop logistics center for cross-border logistics operations, for a cash consideration of 3.5 million USD. At the same time, Du Chunqing (the ultimate beneficial owner of Heng Qu) will subscribe for shares of the company's subsidiary, Huge Cheer, for 5.43 million yuan; and the company will issue convertible bonds with a principal amount of 20.1 million yuan at a conversion price of 1.2 yuan, which represents a premium of 100% over the closing price on the last trading day (26th). The net proceeds are intended to be used as general working capital for the logistics business.