The Times Australia
News From Asia

.

China's Unmanned Retailing Leader Ubox Signs Partnership MoU with Siwar Foods

RIYADH, SAUDI ARABIA - Media OutReach Newswire - 27 August 2024 -Beijing Ubox Online Technology Co., LTD. ("Ubox") (SEHK stock code: 02429.HK) is pleased to announce the signing of a strategic partnership Memorandum of Understanding (MoU) with Siwar Foods Co.

, LTD. ("Siwar") in Saudi Arabia. This collaboration will introduce advanced unmanned retailing technology for ready-to-eat (RTE) food to major cities in Saudi Arabia, including Riyadh, Jeddah, Mecca, and Medina, significantly enhancing the shopping experience for consumers.

China

Navigator Consulting, as the strategic advisor for UBOX in the Middle Eastern market, facilitated this signing and collaboration.

Introducing Advanced Unmanned Retailing to Saudi Arabia

The partnership between Ubox and Siwar aims to deploy state-of-the-art unmanned vending machines across Saudi Arabia, bringing innovation and convenience to the retail sector. Ubox's extensive experience in unmanned retail operations and supply chain management in Mainland China will contribute to Saudi Arabia's technological progress, economic development, and the growth of local employment opportunities.

Expertise and Market Insights Driving Growth

Operating within one of the world's most developed food industries, Ubox has built a wealth of business data and operational expertise, particularly in product selection, pricing, distribution, and replenishment. These insights will ensure a seamless and efficient shopping experience for Saudi consumers, tailored to local preferences, and will actively support the growth of the local market.

Delivering Affordable and Diverse Food Choices

In collaboration with Siwar, Ubox will leverage China's extensive and cost-effective food industry, combined with its own supply chain management expertise, to introduce a variety of affordable, exotic, and diverse RTE food options. This initiative will expand culinary choices for Saudi consumers, offering new and exciting flavors to the region.

Ubox: Innovating Unmanned Retail

Ubox's unmanned vending machines offer a wide range of fast-moving consumer goods (FMCGs), including bottled drinks, snacks, and freshly brewed coffee. The machines are equipped with advanced AI technology that enables intelligent identification of goods and provides convenient payment options such as face recognition, QR code scanning, and NFC. By the end of 2023, Ubox had nearly 60,000 machines deployed across 28 provinces in Mainland China, serving various locations including offices, tourist attractions, schools, hospitals, sports venues, and transportation hubs.

In 2023, Ubox generated revenue of 2.034 billion yuan (approximately SAR 1.072 billion) from its unmanned retail operations, demonstrating the effectiveness of its business model and the increasing demand for automated retail solutions.
Hashtag: #Ubox

The issuer is solely responsible for the content of this announcement.

About Ubox

Beijing UBOX Online Technology Corp is a China-based company specializing in smart retail, with a primary focus on its Unmanned Retail Business Segment. This segment facilitates the distribution of products, including bottled beverages, snacks, and freshly brewed coffee, through advanced vending machines. The Company also offers a comprehensive suite of services, including advertising and system support, merchandise wholesale, vending machine sales and leases, as well as additional services such as mobile device distribution and karaoke booth operations.

About Siwar

, based in Riyadh, is a prominent RTE frozen food producer supplying over 480 outlets across Saudi Arabia, including wholesalers, hotels, restaurants, and catering companies. Expanding into digital retailing, Siwar now operates more than 120 vending machines throughout the region.

Times Magazine

Managing Your Online Reputation: Strategies for Removing Negative Content

Maintaining a positive online reputation is crucial for individuals and businesses in today's digital age. However, negative content such as negative reviews, defamatory posts, or outdated information can tarnish your reputation and harm your credi...

How Lakeba Group and CEO Giuseppe Porcelli are Shaping AI Advancements

Where artificial intelligence (AI) is reshaping our world, the Lakeba Group is a bright light of innovation and progress. The company is led by Giuseppe Porcelli, a visionary tech enthusiast who has steered it to astounding AI breakthroughs. The...

Segway ZT3 Pro All-Terrain Electric Scooter

Segway-Ninebot, the global leader in the micromobility transportation solutions and robotic service industries is announcing its brand-new ZT series of electric scooters with the ZT3 Pro in Australia. The Segway ZT3 Pro combines cutting-edge smar...

Server Racks and Data Cabinets – What you Need to Know

Server racks and cabinets are what they say on the tin - designed to hold servers and other critical IT equipment for your business such as storage arrays and network switches. They are most commonly used in data centres and networking rooms. Th...

Choosing the Right WordPress Hosting Provider in Australia

Introduction Australia’s thriving technological market has led to an increase in demand for trusted web hosting providers more than ever before, specifically for organizations and users who are utilizing WordPress to increase their online visibili...

The Best Removalists and Storage Solutions for Every Budget

Removalists and storage solutions are professional services designed to help individuals and businesses with their moving and storage needs. Removalists offer a wide range of services, including packing, loading, transporting, and unloading the fur...