00442.HK announced that it entered into a joint venture agreement with Xinbao Jewelry on December 16 this year, under which the parties agreed to set up a joint venture company to engage in online sales of jewellery to mainland China.
The registered capital of the joint venture company is 5 million yuan, while the Heyford Group and Xinbao Jewelry contribute 2.55 million yuan and 2.45 million yuan respectively, accounting for 51% and 49% of the equity of the joint venture company respectively.