JBB BUILDERS (01903) is currently in negotiations with Xiamen Jianfu Chain Management regarding the purchase and sale of 100% equity interest in Chengdu Jianfu convenience store management.

JBB Builders (01903) announced that the company (as the buyer) is currently in negotiations with Xiamen Jianfu Chain Management Co., Ltd. (the seller) regarding the purchase of 100% equity interests of Chengdu Jianfu Convenience Store Management Co., Ltd. (the target company). The seller is a limited company registered under Chinese law, primarily engaged in managing and operating convenience stores in China. After reasonable inquiries by the directors, it is deeply known and believed that Ms. Xing Jun and Mr. Zhang Li (husband and wife) together with their son Mr. Zhang Boyu collectively own 55.36% equity interests in the seller as follows: (i) they directly hold 31.04%, 13.02%, and 0.96% respectively; and (ii) Mr. Zhang Li indirectly holds 6.18% and 4.16% through two companies controlled by him, namely Xiamen Jianfu Investment Partnership (Limited Partnership) and Xiamen Dafu Dajie Electronic Commerce Co., Ltd. The target company is a limited company registered under Chinese law, primarily engaged in retail business and operating convenience stores in Sichuan, China. Through self-operated stores, franchised operations, and supply chain wholesale business, the target company has built a business system of "brand + operation + supply chain". The target company has 65 self-operated stores and 30 franchised stores, covering a wide range of product categories including daily necessities, fresh fruits and vegetables, pre-packaged foods, health foods, and medical devices, fully meeting consumers' daily needs.