MTT GROUP (02350) plans to invest in China Jinyurong Holdings.

MTT GROUP (02350) announced that on February 27, 2025, the company entered into a non-legally binding letter of intent with Mr. Bian Wenbin (founder and shareholder). Based on this, the company intends to invest in (but not limited to) Hang Jin Yurong Holdings Limited (a limited company established in China) in the form of equity, loans, or convertible bonds (possible transactions), along with its subsidiaries, collectively referred to as the "target group", and the founder shareholder may enter into possible transactions with the company. The company and founder shareholder also stated that the total valuation of the target company shall not exceed 70 million Hong Kong dollars. According to the founder shareholder, the company learned that the target company is a comprehensive enterprise headquartered in Shenzhen, with subsidiaries including Wuhan Qingqing Times Network Technology Co., Ltd., Wuhan Qingyun Fun Group Technology Consulting Service Co., Ltd., Wuhan Qingyun Meicheng Technology Service Co., Ltd., and Hunan Qingyun Juxin Digital Technology Holdings, among others. Their business covers multiple areas such as leasing, second-hand goods recycling transactions, comprehensive e-commerce platforms, and digital information services. The company has established over 300 joint-storefronts nationwide using the development model combined with Wuxi Online Offline Communication Information Technology Co., Ltd.