Jenga Group (08187) announced that on April 18, 2024, the company, as a potential investor, entered into a non-legally binding memorandum of understanding with Guangzhou Huaxing Media Co., Ltd. (target company). According to the memorandum of understanding, the company intends to subscribe for additional registered capital from target companies through capital increases.
According to reports, the target company is mainly engaged in the live streaming platform business and is active in the short video market and developing influence marketing through a Chinese online platform.
The directors believe that investing in a media company that specializes in operating live streaming platforms and influencer marketing will help promote the Group's business and expand the Group's sales and marketing channels. A possible capital increase (if implemented) is expected to have a positive impact on the Group's business and financial situation.