JIN MI FANG GP (08300) plans to cooperate with Yunnan Xishuangbanna Company to develop sales and market promotion of the tea business in China.

JIN MI FANG GP (08300) announced that the company has decided to collaborate with a company established in Xishuangbanna, Yunnan Province, China (business partner) to engage in the sales and marketing promotion of tea business in China. The business scope of the business partner includes wholesale and retail of tea, pre-packaged food, and bulk food; tea planting, initial processing, refining, and sales; leisure agricultural tourism; catering services; and online sales. Currently, the business partner operates three primary processing plants and one refining plant, with a total floor area of over 15,000 square meters. The business partner also owns more than 3,500 acres of ancient tea gardens, including over 3,500 ancient tea trees, with an annual tea production of over 80 tons. The business partner is committed to protecting the ecological system of ancient tea gardens, striving to uphold both tradition and innovation, and dedicating to delivering authentic ancient tea to every household. The Group has maintained active communication with the business partner and plans to sign a memorandum of understanding/cooperation agreement with the business partner in the near future to jointly establish a company to carry out tea sales, marketing promotion, business development, tea product sales, and business partner asset activation in Xishuangbanna, Yunnan Province, China. The directors believe that expanding the sales and marketing promotion of tea business in China is in the overall interest of the Company and shareholders. The directors also believe that the Group will be able to leverage its established experience and professional knowledge in the catering industry to develop new business, further diversify the Group's sources of income, and ultimately enhance the overall financial performance of the Group.