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Damon Technology Group, a Chinese manufacturer specializing in smart conveyor systems, has secured a $40.9 million contract for an intelligent logistics project in Latin America.
The company will supply cross-belt sorting systems and related services for a major Latin American e-commerce platform, according to a statement released yesterday. This project aligns with Damon’s core business focus and marks a significant milestone in its global growth strategy.
With nearly 200 clients internationally, the company anticipates that successfully delivering this contract will positively influence its future business prospects and performance. However, the company did not disclose additional details about the deal.
Founded in 2001, Damon is a prominent provider of smart logistics solutions in China. Its operations include manufacturing key components, developing software, and system integration, enabling it to offer comprehensive intelligent conveying and sorting systems.
Damon serves clients across eight main industries, such as e-commerce, express delivery, and smart manufacturing, with notable customers including JD.com, SF Express, and Alibaba’s Cainiao Smart Logistics Network.
As of 10:30 a.m. in Shanghai today, Damon’s stock was trading down 3.1 percent at 23.29 Chinese yuan (approximately $3.27 USD).
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