Gelonghui, June 5 - Li Jun Group (08360.HK) announced that the group will cooperate with star chef Li Jiading and his son, Mr. Lee Wing-ho, to develop the restaurant business. The group will take over the two restaurants currently run by Mr Li Ka-ding, namely Grandpa Ding's Private Cuisine in Wan Chai and Dingshang Roasted Goose Soup Restaurant at the top of the hill.

The company will take over these restaurants in June 2023 and rebrand it as Grandpa Ding's Kitchen, which is operated by a non-wholly owned subsidiary of the company. As the executive chef, Mr. Li Jiading will be responsible for the daily operation of these restaurants. Mr. Li Jiading and Mr. Li jointly own 10% of the shares in the operating subsidiaries.

Since 2017, Mr. Li Jiading has received enthusiastic feedback and fame on the TV cooking show Grandpa's Kitchen. The TV cooking program focuses on a variety of classic Chinese dishes designed by Mr. Li Jiading and his solid cooking skills. His affinity for simple, home-style dishes has won over audiences across Asia.

The Board believes that this is a good opportunity for the Group to take advantage of Mr. Li Jiading's popularity to expand into the catering industry, thereby expanding the Group's revenue sources and in line with the overall interests of the company and shareholders. Furthermore, given the reopening of the border between China and Hong Kong in early 2023, the Board believes that mainland visitors will bring more positive sentiment to Hong Kong's economy, and is therefore optimistic about operating such restaurants near popular tourist attractions in Hong Kong.