Jiayi Holdings (01025) announced that on May 24, 2024, Jiayi Global, an indirect wholly-owned subsidiary of the company, entered into a joint venture agreement with China Agricultural Chuangang Cross-Border E-commerce Industrial Park Co., Ltd., pursuant to which the parties agreed to establish a joint venture company with a registered capital of HK$1 million. After establishment, the joint venture company will be owned by Jiayi Global and 49% respectively.
The announcement stated that the joint venture company will be established in China Hong Kong to engage in transnational e-commerce (including textiles, garments and other agricultural products (000061)). The establishment of the joint venture company is expected to achieve complementary advantages, synergies and resource integration, and at the same time expand and expand the group's presence in China Hong Kong and mainland China.arcadeparadiseThe business prospects of the Group are conducive to the business development of the Group and China Agricultural Innovation.
