JS Global Life (01691) announced that on January 31, 2024, Joyang and Joyang Small Household Appliances and Joyang Soy...
Zhitong Finance App News, JS Global Life (01691) announced that on January 31, 2024, Joyang and Joyang Small Home Appliances entered into a patent transfer agreement with Joyang Soybean Industry and agreed to transfer a total of four patents to Joyang Soybean at a total cost of RMB 158,800. On the same day, Joyang and Joyang Soybean Industry signed a trade license agreement and agreed to grant Joyang Soybean a permanent and non-exclusive right to use the brand. The license fee is RMB 36 million. It is expected that after completing the patent transfer and license to use the trade name, the group will obtain pre-tax revenue of approximately RMB 158,800 and RMB 36 million, respectively, from the patent transfer and the license to use the trade name.
According to reports, the above four patents are mainly used for the R&D and production of commercial soy milk machines; they are not the core technology required for Joyang's main business to develop and produce small household appliances.
According to the announcement, Joyang's core business is the production and sale of home appliances, and currently no longer holds any shares in Joyang Soybean Industry. In order to focus on developing its core business and promoting long-term sustainable development, the transfer of non-core technology patents unrelated to the home appliance business is in line with the overall development strategy of Joyang and the Group, helping to further improve internal resource management and operational efficiency, and beneficial to the long-term development of Joyang and the Group. Therefore, patent transfers and trade name use licenses are beneficial to Joyoung and the Group.