November 1, 2011Happy Intelligence (08040.HK) announcementOn October 31, 2023, Yacht Doctrine (far East) Limited, a wholly-owned subsidiary of the company, signed a cooperation agreement with Zhang Jiangnan for the establishment of a non-wholly-owned subsidiary of a company registered in China. The proposed registered capital of the subsidiary is RMB 3 million. The group will contribute RMB 1.71 million, accounting for 57 per cent of the subsidiary's equity. The subsidiary is mainly engaged in R & D, production and sales of intelligent, energy-saving and environmental protection equipment, as well as R & D and sales of nano-products.
The Board reviews its existing business from time to time and explores business opportunities for business expansion in order to promote the sound development of the Group's business. The board of directors is of the view that the signing of the cooperation agreement will be conducive to the sustainable development of the group's business and provide a good opportunity for the group to open up its sources of income.