Tiancai Holdings (03882) announced that Wuhan Xiushi convenience Store Co., Ltd. (Wuhan Xiushi, the company's non-wholly-owned subsidiary) signed a "cooperation agreement" with a subsidiary of China Merchants property Management Co., Ltd. (the property management company), a subsidiary of China Merchants property Management Co., Ltd., which is headquartered in China and one of the largest property management companies in China. According to the cooperation agreement, the property project managed by the property management company in China will fully cooperate with Wuhan Xiushi, and the group's vending machines will be fully stationed in the above projects.
The board of directors believes that this cooperation with the property management company will greatly increase the scale of the group's vending machine business in China and have a significant impact on the business development of the group's business division.