Gelonghui, December 29丨Haina Starry Sky Technology (08297.HK) announced that on December 29, 2023, the company and Hangzhou Guantianxia Health Industry Co., Ltd. (“Hangzhou Guantianxia”), together with the company collectively (“Contracting Party”), entered into a strategic cooperation framework agreement on potential strategic business cooperation (“strategic cooperation”) between the contracting parties, which is subject to the terms and conditions of a formal and legally binding formal agreement to be signed separately.
According to the framework agreement, the contracting parties agreed to carry out strategic cooperation to develop and promote health care management and consulting services in China, and sell health products (including the Group's shape-shaping functional underwear products). A framework agreement is valid for one year from the signing of the framework agreement.
With the Group's experience in retail and brand awareness and e-commerce business, mainly in Hong Kong, and Hangzhou Guantianxia's rich experience in remote health care management and consulting services, traditional Chinese medicine health care services, and internet sales, the Group expects that the strategic cooperation will not only enhance the popularity of the Group's underwear brands in East China and enter the underwear market in East China, but also provide valuable opportunities for the Group to develop “big health” related businesses such as remote health care management and consulting services in East China, and also enhance Hangzhou Tianxia Strengthen brand awareness and business development trends to achieve mutually beneficial effects. The board of directors anticipates that the strategic cooperation will help the Group develop the underwear market and develop the “Big Health” business in East China, implement the diversification of the Group's business base to increase revenue sources, enhance the Group's profitability, and bring long-term value to the Group. Therefore, the directors believe that the conclusion of the framework agreement is in the overall interests of the company and shareholders.