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海福德集团(00442)与新宝珠宝成立合营公司以进军中国内地线上珠宝市场

Heyford Group (00442) sets up a joint venture with Xinbao Jewelry to enter the online jewelry market in mainland China.

智通財經 ·  Dec 17, 2021 10:10

Zhitong Financial APP, Haiford Group (00442) entered into a joint venture agreement with Xinbao Jewelry on December 16, 2021, according to which the parties agreed to set up a joint venture company (Baojun International Co., Ltd.) to engage in online sales of jewelry to mainland China. The registered capital of the joint venture company is HK $5 million, of which the company contributed HK $2.55 million, accounting for 51% of the equity of the joint venture company, and Xinbao Jewelry contributed HK $2.45 million. It accounts for 49% of the equity of the joint venture company.

The Group has been actively exploring the possibility of expanding its sales business to sell directly to customers in mainland China. In view of the fact that the establishment of the JV Company is based on the principle of "complementarity, mutual support, long-term cooperation and common development" among the contracting parties, and the ultimate goal is to enter the online jewelry market in mainland China, the Directors are of the view that the establishment of the JV Company is a strategic move of the Group.

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