Zhongshi minan (08283.HK) announced on June 7th that a non-binding memorandum of understanding was signed on the proposal for exploring various business cooperation models between the company and Jieshengsi Holdings (Shenzhen) Co., Ltd. ("Jieshengsi Holdings") on June 7, 2024.

The company and Jieshengsi Holdings are discussing potential cooperation models. According to the memorandum of understanding, the company and Jieshengsi Holdings have agreed to explore various business cooperation models by utilizing the company's advantages as a listed company. Jieshengsi Holdings will collect and select big data on high-quality food supply chains, dining brands, and consumer life projects in mainland China, provide recommendations to the company, and may conduct investment cooperation.

The company also plans to accelerate the expansion of brand incubation work in mainland China. The goal of both parties is to improve the empowerment and service of high-quality consumer and dining brands in mainland China, strive to achieve the scale development of the industry, and further consolidate the company's market position.

The board of directors believes that it is advantageous for the group to occasionally seek investment opportunities to develop existing business portfolios with growth potential and expand sources of income. Directors believe that once the proposed cooperation between the group and Jieshengsi Holdings is implemented, it will be an opportunity for the group to diversify its sources of income, which is in line with the overall interests of the company and shareholders.