Gleneagles International (09918.HK) announced that on March 20, 2024, Hong Kong Linian entered into a joint venture agreement with Giken. Based on this, the contracting parties agreed to jointly register and establish a joint venture company, with Hong Kong Lian and Giken holding 90% and 10% of the rights respectively. The joint venture will be mainly engaged in sales and promotion of the EMS industry development provided by Hong Kong Lian in cooperation with Giken.

The Group is a well-known EMS supplier focusing on consumer electronics products and is committed to providing customers with one-stop solutions. The Group also provides a wide range of EMS services to companies in the medical, healthcare, HVAC, industrial and electrical fields, and provides enterprises with innovative IoT terminal equipment solutions to help them achieve their business and operating goals.

On the other hand, Giken is an integrated contract manufacturer with a long history. Its holding company has been listed on the Singapore Stock Exchange since 1993, and its production facility is located in Batam, Indonesia. Giken has accumulated rich expertise in four major business areas: precision machining, electronic contract manufacturing (PCBA), plastic injection molding, and machine assembly.

The directors believe that the establishment of the joint venture marks a collaboration between Hong Kong's Li Nian and Giken in sales and marketing, with the aim of promoting the synergy between Hong Kong's new product innovation capabilities and Giken's mature manufacturing capabilities in Batam, Indonesia. The joint venture's development vision is to promote innovation between the contracting parties and improve customer satisfaction.