On November 18, Glonhui announced that C Zenith Chem (00362.HK) has signed a strategic investment framework agreement with three companies incubated by Suzhou Chuyi Enterprise Management Co., Ltd. (Suzhou Chuyi) on November 18, 2024: Hubei Yidong Yimei Management Co., Ltd., Hubei Daohuo Industrial Development Co., Ltd., and Favudo Dining Management (Peking) Co., Ltd.
According to the framework agreement, Yidong Yimei, Daohuo Industrial, and Favudo agree to cooperate with the company and commit to making strategic investments in the company to support its development in accordance with Hong Kong capital market regulations and certain conditions. Depending on the different stages of cooperation, it is expected that Yidong Yimei, Daohuo Industrial, and Favudo will make strategic investments of no less than 20 million US dollars in the company, including but not limited to the subscription and issuance of notes, bonds, convertible bonds, and/or share placements, as well as other debt and equity investments based on market conditions and the usage of funds at that time.
The board of directors believes that in order to expand into the mainland china market and enter the big health and csi consumer 360 index industries, all parties can leverage their respective advantages, resources, and expertise to establish a stable and mutually beneficial strategic partnership. The signing of the framework agreement aligns with the overall development strategy of the company, allowing the company to seize any potential business and investment opportunities, and is in line with the overall interests of the company and its shareholders.
