On December 3, Gelonghui reported that Jimu Group (08187.HK) announced that on December 3, 2024, the company entered into a non-binding memorandum of understanding regarding strategic cooperation in retail and e-commerce business with Aolae Tong (Peking) E-commerce Co., Ltd. ("potential partner").

According to the memorandum of understanding, the group and the potential partner have agreed to establish a partnership for retail and e-commerce expansion to leverage their respective advantages in the footwear, outfits, and luggage industry. The purpose of this strategic cooperation is to enhance the group's market share and strengthen product supply by utilizing the potential partner's industry resources, distribution channel, retail network, and e-commerce platform to support the group's expansion in these business areas.

The cooperation will focus on joint business development initiatives, including co-developing product lines tailored specifically for outlet stores, providing a wider range of choices and enriching shopping experiences for consumers. The group will also explore the potential for launching co-branded or special edition product lines to expand the customer base and enhance the group's competitive advantage in the market. To further strengthen market impact, both parties will conduct joint marketing and promotion activities, combining their resources and expertise to achieve mutual business growth.

To effectively implement this cooperation, the group and the potential partner will establish a joint working group responsible for coordinating strategic initiatives and overseeing project execution. Both parties have committed to providing necessary resources, including funds, personnel, technology, and distribution capabilities, to support the growth of the footwear, outfits, and luggage business under the partnership.