Sublimation Rand (08106.HK) announced that the company has 41% subsidiary Dianshi Technology and entered into a cooperation framework agreement with Junrui Industry and Xuanying Yunhao Partnership. The three parties agreed to set up a joint venture company in Hangzhou, Zhejiang Province, China with a registered capital of 10 million yuan (the same below), while Dianshi Technology agreed to contribute 4.6 million yuan to the registered capital of the joint venture company.
The joint venture company will be mainly engaged in the management and operation of children's clothing brands, including the establishment, incubation, agency and acquisition of brands, providing related supply chain finance and services ranging from commodity planning and category planning to production, storage, delivery and sales channel promotion.