SITC, Shanghai International Port Group (SIPG) and Hisense have signed a tripartite framework agreement covering equity investment cooperation in South Africa.
The agreement was signed on 16 October 2026 in Qingdao, China. The companies did not disclose the intended ownership structure, investment value or completion timetable.
Under the framework, SITC Logistics and SIPG Logistics plan to combine their port, shipping, supply-chain and logistics network resources to provide Hisense with integrated supply-chain services.
The cooperation is intended to support Hisense’s operations in South Africa and the wider overseas expansion of Chinese manufacturing companies.
Partners plan integrated logistics cooperation
Alongside their planned business cooperation, the three companies intend to establish a regular programme for staff exchanges and joint training.
The initiative will include personnel rotations, shared training activities and exchanges of experience involving overseas projects and local management.
Representatives attending the signing included SIPG Vice President Wang Haijian, SIPG Logistics General Manager Liu Ming, SITC Chairman Yang Xianxiang, SITC CEO Xue Mingyuan, SITC Logistics President Lai Zhiyong and Hisense CEO Yu Zhitao.
Hisense User Delivery Center President Duan Yuebin also attended the ceremony.
The parties described the framework as a basis for sharing resources, developing business jointly and strengthening workforce capabilities.
