Zhitong Finance App News, Jiayi Holdings (01025) announced that on May 24, 2024, the company's indirect wholly-owned subsidiary Jiayi Global entered into a joint venture agreement with China Agricultural Innovation Port Cross-border E-commerce Industrial Park Co., Ltd. Based on this, the contracting parties agreed to establish a joint venture with a registered capital of HK$1 million. After the establishment of the joint venture, Jiayi Global and China Agricultural Innovation will own 51% and 49% of the shares respectively.

According to the announcement, the joint venture will be established in Hong Kong, China to engage in multinational e-commerce (including textiles, garments and other agricultural products). The establishment of a joint venture is expected to achieve complementary advantages, synergy effects and resource integration, while also developing and expanding the Group's business prospects in Hong Kong and mainland China, which is beneficial to the business development of the Group and China Agricultural Innovation.