JIN MI FANG GP plans to cooperate with Yunnan Xishuangbanna Company to expand the sales and marketing of Chinese tea business

According to the Zhitong Finance APP, JIN MI FANG GP (08300) announced that the company has resolved to cooperate with a company established in Xishuangbanna, Yunnan Province, China (business partner) to carry out the sales and marketing of tea business in China. The business partner's scope of operations includes wholesale and retail of tea, pre-packaged food, and bulk food; tea planting, primary processing, refining, and sales; leisure agricultural tourism; catering services, and online sales.

Currently, the business partner operates (including) three primary processing plants and one refining plant, with a total floor area of over 15,000 square meters. The business partner also owns over 3,500 acres of ancient tea gardens, including over 3,500 ancient tea trees that are over a thousand years old, with an annual tea production of over 80 tons. The business partner is committed to protecting the ecosystem of the ancient tea gardens, striving for both inheritance and innovation, and is dedicated to delivering authentic ancient tea to every household. The group has maintained active communication with the business partner and plans to sign a memorandum of understanding/cooperation agreement with the business partner in the near future to jointly establish a company to carry out tea sales and marketing, business development, tea product sales, and asset activation of the business partner in Xishuangbanna, Yunnan Province, China.

The board believes that expanding the sales and marketing of the tea business in China aligns with the overall interests of the company and its shareholders. The board believes that the group will be able to leverage its established experience and expertise in the catering industry to develop new businesses, further diversify the group's revenue sources, and ultimately enhance the group's overall financial performance