Intelligent Finance News APP News, Allurefem hldg (08305) announced that the company is actively exploring business development opportunities in the Greater China Bay Area and has appointed Chen Peng as the chief executive officer to explore business opportunities for the group in the Bay Area.

The Greater China Bay Area is a prominent national initiative in China's long-term strategic development plan, attracting top Chinese and overseas companies as well as rapidly growing businesses to operate in the region. The board of directors believes that the policies implemented by the Chinese government in the Bay Area have brought relatively more business opportunities. With the group's background in the construction industry and the director's business network in the Chinese Hong Kong Chinese community, the group has appointed Chen as the first step in exploring upstream and downstream business opportunities, including business exploration in the Bay Area focused on Shenzhen.

The development of business in the Greater China Bay Area enables the group to consolidate and expand its existing business, extending its business footprint from Hong Kong, China to the Bay Area. Therefore, the board of directors believes that the development of business in the Bay Area has the potential to contribute to the group's future, benefiting the company and aligning with the interests of the group and its shareholders.

To support the development of business in the Bay Area, the group has hired Chen Peng as the chief executive officer. Chen Peng has extensive experience in finance, marketing strategy, and investment. Chen Peng will be primarily responsible for the overall management and market development of the group in the Greater China region. With Chen Peng's joining, the board of directors believes that the company will gain more business networks and opportunities in the Greater China region.