According to the Zhitong Finance App, Bigao Group (08220) announced that on October 27, 2022, Gao Yi, a wholly-owned subsidiary of the group, signed a joint venture agreement with Wan Xiquan and Qin Sheng to establish a joint venture with a total share capital of HK$2 million.

According to the terms of the joint venture agreement, Gao Yi, Wan Xiquan and Qin Sheng will each inject HK$1.2 million, HK$400,000 and HK$400,000 into the joint venture's share capital in cash. After the establishment of the joint venture company is completed, Gao Yi, Wan Xiquan and Qin Sheng will own 60%, 20% and 20% of the shares of the joint venture, respectively.

The joint venture will be mainly engaged in the development, design, marketing and sale of movie-themed tourbillon watches.