Gelonghui, May 17, 丨 Zhuoyue Holdings (00653.HK) issued an announcement. On May 17, 2024, the company's subsidiary and Happy Buy Co., Ltd. signed a non-legally binding memorandum of cooperation on a potential strategic cooperation plan between the group and Happy Buy, representing the preliminary agreement between the parties to the agreement, and the possible cooperation must be implemented by the parties entering into a formal cooperation agreement.

According to the Memorandum of Cooperation, the Group and Happy Buy agreed to promote comprehensive cooperation between the two sides to achieve complementary advantages, mutual benefit and win-win situation. Jointly cooperate and develop cross-border business, and further expand joint market cooperation intentions.

The main contents of the cooperation include: 1. The Group provides a series of products under its brands and joint sales with Happy Shopping. 2. Happy Buy provides promotion media for the Group's brand products, including priority promotion through channels such as TV shopping platforms, online stores, mobile platforms, social marketing, cooperative distribution, etc., and provides preferential policies for the Group. 3. Happy Shopping opens up the mainland Chinese market for Group brand products, provides combined pricing plans for Group brand products, provides brand member maintenance services, combines group member data, formulates data operation plans, and provides sales and operation teams to carry out daily member operation plans to enhance the brand awareness and brand influence of Group products.

Happy Buy was founded in 2005. It is a media e-commerce company under Hunan Radio and Television Mango Supermedia. It pioneered the first-generation home shopping industry sample in China and is the first TV shopping stock in China. In 2018, it was fully integrated into Hunan Radio and Television. The business development was based on the superior resources of Hunan Radio and Television, and fully integrated into the Mango e-commerce strategic section to achieve cross-border integration of media, retail and e-commerce, forming a unique media e-commerce business model. Happy Shopping is committed to building a new media industry and capital operation platform. Through diversified, multi-touch scenario management and multi-channel integration, we can expand a wider consumer market and create greater traffic value.

The Memorandum of Cooperation was established to achieve balanced development between short-term results and medium- to long-term strategic goals by giving full play to the comprehensive resource advantages of the company and Happy Shopping and innovating new cooperation models. The two sides hope to carry out industrial and technological innovation through all-round cooperation, carry out business optimization, strengthen coordination mechanisms, and bring major opportunities. The board of directors believes that the cooperation plan under the Memorandum of Cooperation will further promote the company's continuous development and steady growth in the future, provide profitability, and bring more impressive returns to shareholders.