Summary by Moomoo AI
JS Global Lifestyle announced on 31 January 2024 that its flagship subsidiary Jiuyang and Jiuyang Small Appliances and Jiuyang Bean Industries signed a patent transfer agreement to transfer four patents at a total cost of RMB 158,800. On the same day, Jiuyang also signed a trade license agreement with the Jiuyang bean industry, granting the latter permanent and non-exclusive rights to use the “Jiuyang” trademark, with an authorization fee of RMB 3 million. The transaction is expected to generate pre-tax income of approximately RMB158,800 and RMB3,600 million for JS Global Life. Since Mr. Wang Xuining indirectly holds approximately 68% of the shareholding in Jiuyang Beans, the transaction is considered to be a connected transaction and a continuing connected transaction, but has been exempted from compliance...Show More