SHENZHEN, China, Nov. 2, 2018 /PRNewswire/ -- Nam Tai Property Inc. ("We", "Nam Tai" or the "Company") (NYSE Symbol: NTP) announced today a successful brand launching event to promote the development of Nam Tai Inno Park into a high-end research and development complex.
Attending Nam Tai's brand launching event in Shenzhen on October 31, 2018 were representatives from JD Cloud, Murata Manufacturing, Invengo, Shenzhen Youdian Technology and Shenzhen IoT Intelligent Technology Application Industry Association. Attendance by these potential strategic partners represents an acknowledgement of a shared vision to develop Nam Tai Inno Park into a multifaceted technology park dedicated to the development of the Internet of Things (IoT) industry.
At the event, Nam Tai shared its plans to develop various platforms and services designed to attract and support leading innovative companies. Among the planned offerings are: (i) an intelligent building management platform, which is expected to include security and various energy consumption and environmental monitoring systems; (ii) a public amenities platform, which is expected to offer use of shared services such as meeting rooms, conference planning, and other physical public amenities; and; (iii) an industrial and business service platform, which is expected to offer government liaisons, and business and capital introduction services.
JD Cloud, an affiliate of the JD Group (Jingdong), is a provider of cloud computing services that is integral to the IoT industry. Murata is a global leader in the design, manufacture and supply of advanced electronic components and modules that makes up some of the critical components of certain IoT products. Invengo manufactures and supplies radio frequency identification (RFID) products and solutions that form the backbone of logistic and tracking systems of an IoT based economy. Youdian manufactures IoT products for smart homes such as smart door locks and smart water filters. Shenzhen IoT Intelligent Technology Application Industry Association is a leading IoT industry association in Shenzhen with over 4,000 members.
ABOUT NAM TAI INNO PARK
Nam Tai Inno Park is a high-end research and development center located at Guangming district, Shenzhen City, the People's Republic of China. Guangming District, a newly zoned district within the Shenzhen municipality has experienced rapid growth recently. According to the "2017 Annual Government Report of Guangming District", published by the Guangming government on March 6, 2018, Guangming district is one of the fastest growing districts within the Shenzhen municipality. Upon completion, Nam Tai Inno Park will include: 269,000 sqm gross floor mixed-use complex which includes spaces for office/R&D center, apartment and commercial/retail space; and 1,500 underground parking spaces.
ABOUT NAM TAI PROPERTY INC.
We are an owner and developer of technology parks. We hold two parcels of land located in Guangming and Gushu, Shenzhen, China. We are converting these two parcels of land that formerly housed the manufacturing facilities of our prior businesses into high-tech research and development centers, Nam Tai Inno Park and Nam Tai Inno City. We expect our principal income in the future will be derived from rental income from these research and development centers. Nam Tai Property Inc. is a corporation registered in the British Virgin Islands and listed on the New York Stock Exchange (Symbol: "NTP"). Please refer to the Nam Tai website (www.namtai.com) or the SEC website (www.sec.gov) for Nam Tai press releases and financial statements.
FORWARD-LOOKING STATEMENTS AND FACTORS THAT COULD CAUSE OUR SHARE PRICE TO DECLINE
Certain statements included in this announcement, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "might", "can", "could", "will", "would", "anticipate", "believe", "continue", "estimate", "expect", "forecast", "intend", "plan", "seek", or "timetable". These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business and the industry in which we operate. These statements are only predictions based on our current expectations about future events. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activities, performance, or achievements expressed or implied by the forward-looking statements, including, but not limited to, delay in our ability to obtain all requisite permits and approvals from relevant government authorities in relation to the redevelopment of two parcels of properties in Guangming, Shenzhen, and Gushu, Shenzhen, respectively, and the successful redevelopment of the two parcels of properties into Nam Tai Inno Park and Nam Tai Inno City; the sufficiency of our cash position and other sources of liquidity to fund our property developments; continued inflation and appreciation of the Renminbi against the U.S. dollar; and rising labor costs in China and changes in the labor supply and labor relations. In particular, you should consider the risks outlined under the heading "Risk Factors" in our most recent Annual Report on Form 20-F and in our Current Reports filed on Form 6-K from time to time. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this announcement; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstance occurring after the date of this announcement or those that might reflect the occurrence of unanticipated events.