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On June 11, Hitachi Elevator (China) Co., Ltd. (hereinafter referred to as "Hitachi Elevator") and Times Neighborhood Holdings Limited (hereinafter referred to as "Times Neighborhood") signed equity cooperation. Konhitachi Elevator Engineering (Shanghai) Co., Ltd., a subsidiary of Hitachi Elevator, and Guangdong Neighborhood Electromechanical Co., Ltd., a subsidiary of Times Neighborhood, jointly funded the establishment of a joint venture "Guangzhou Times Konhitachi Technology Service Co., Ltd.", opening a new cooperation model for elevator business. Under the new cooperation model, Hitachi Elevator and Times Neighborhood integrate their expertise and resources to carry out more extensive exploration and practice.

In 2004, Hitachi Elevator and Times Property launched their first cooperation; in 2012, the two parties signed a strategic cooperation agreement. Working together for 17 years, Hitachi has provided thousands of elevator and escalator products and services for hundreds of projects of Times Property, and created projects such as Chengdu Times Skyscape, Hangzhou Future City Project, Guangzhou Airport Times Masterpiece, Foshan Times Car Town, and other projects.

The cooperation model between Hitachi Elevator and Times Group continues to develop and extend in-depth from project cooperation to investment cooperation. In the future, the two parties will carry out closer cooperation in elevator sales, installation, maintenance, repair, renovation, and property services.