On June 11th, Guolonghui reported that the extraordinary leader (00933.HK) announced that on June 11th, 2024, the company's wholly-owned subsidiary, Futuan Global Limited, has agreed to establish a joint venture with LionRock Capital Aspire (HK) Limited. The joint venture will be owned 50% by Futuan and LionRock HK respectively, and will have the license to use the intellectual property rights owned by Haglöfs AB, to operate the sales and marketing of Haglöfs branded products in Greater China.

Haglöfs is a highly respected international outdoor equipment and apparel brand, particularly well-known in the Nordic region. It is expected that this cooperation will have a synergistic effect with the group's own brands, enhance Haglöfs' brand awareness in Greater China, and further expand the group's sources of income, bringing better returns to the company's shareholders. Based on the above, the establishment of a joint venture provides a good investment opportunity for the group, enriches the group's brand portfolio, which will include a combination of fast-moving fashion brands, high-end footwear brands, fashion and luxury footwear brands, as well as outdoor equipment and apparel brands.