On March 14, GLONGHUI | Jinyong Investment (01328.HK) announced that the company and Meitu signed a strategic cooperation framework memorandum on March 14, 2024, which oversees the deep relationship between the Group and Hongyi Investment Group and potential strategic synergies with Meitu.
According to the Memorandum of Strategic Cooperation, the Company and Meitu (and/or their respective related parties) will explore possible cooperation, including overseas strategic development and capital market initiatives; it is proposed that the Company (and/or its affiliates) may provide Meitu (and/or its affiliates) with a range of services, including but not limited to overseas business development financial advice, overseas capital markets and investment and financing financial advice, cash management products, asset allocation, etc. on the basis of further negotiations between the Company and Meitu (and/or its respective related parties). The Company anticipates charging fees for the services provided above.
The company believes that the Memorandum of Strategic Cooperation is a strong proof of the company's business capabilities and potential. The directors believe that the proposed cooperation between the Group and Meitu under the Memorandum of Strategic Cooperation (if implemented) represents an opportunity for the Group to diversify its revenue sources, and that the establishment of a strategic cooperation memorandum conforms to the overall interests of the company and its shareholders.