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HONG KONG, Mar 1, 2012 - (ACN Newswire) - China Trends Holdings Limited ("China Trends", Stock Code: 8171.HK) is delighted to announce that, Boss (China) Systems Limited ("Boss China"), a subsidiary of the Company entered into a cooperation framework agreement with Boss Dream Cultural Communication Company Limited ("Boss Cultural") and Zhejiang Lianyijia Technology Limited ("Zhejiang Lianyijia") today after trading hours. The three parties plan to build one million energy-saving media terminals in PRC regions within ten years, to create national media terminal network and shopping terminal network.
According to the agreement, Boss Cultural will be responsible for establishing "energy-saving media terminal" regional companies at county level and above regions in PRC (3,229 in total) by investing shares, which will act as the "energy-saving media terminal" marketing and service centers in different regions. Authorized by Boss Cultural, Zhejiang Lianyijia will be responsible for promoting, managing and providing support for the regional companies and charge 10% income from the regional companies as management fee. Boss China, the PRC subsidiary of the Company which focusing on energy performance contracting (EPC) to promote the energy-saving applications for digital products, will be responsible for providing not less than one million units of energy-saving electronic terminals (including two models: 22-inch wall-mounted LCD and 32-inch floor-type LCD) under EPC to regional companies. Thus regional companies do not need to purchase "energy-saving media terminal", but only pay for the energy costs saved by "energy-saving media terminal" to Boss China.
For the investment required for establishing regional companies, 51% will be bear by Boss Cultural, and the remaining 49% will be bear by the local investors invited by Zhejiang Lianyijia. The tripartite "business plan" shall prevail the progress of the cooperation projects under the agreement. The cooperation framework agreement will be effective from the signed date, and is valid for not less than 20 years.
Mr Xiang Xin, the Chairman and Executive Director of the Company said, with strong support from the PRC government to promote the implementation of the energy performance contracting (EPC) to facilitate the energy-saving service sector in the economy, coupled with nationals' strong demand of living quality and fashionable consumption, the Group hopes that, through the cooperation framework agreement, to speed up the development of EPC business.
The Group provides energy-saving terminal products and related solutions to customers by mean of EPC to realize its investment returns. Through the mentioned cooperation, the tripartite will build one million "energy-saving media terminal" in PRC regions with their respective advantages within ten years, to create a national media terminal network and shopping terminal network, which accelerates the progress of the Group's EPC business.
Boss Cultural is issued the television programs production license, publications license and audio-video products license by the PRC government, and commits to build a national terminal media network, while Zhejiang Lianyijia combines the concept of the internet of things, e-commerce, and community service, through the Internet technology, focusing on the PRC valued population to provide a life convenience and high-end brand shopping services, and providing personalized products to conduce the highest quality lifestyle and become the territory of the fashion consumption.
Contact:
China Trends Holdings Limited
Tel: (852) 2111 9988
Direct: (852) 2155 6275
Topic: Press release summary
Source: China Trends
Sectors: Daily Finance, Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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