Kang Jian (03886) bought Hong Kong's high-end clothing wholesale business

Kang Jian International (03886) announced that, at the cost of 7 million 837 thousand yuan, subscribe to 48% of the issued share capital, which is committed to a fully diluted benchmark, when Kang Jian completed the loan agreement, Kang Jian agreed to finance the loan with a maximum sum of 12 million yuan, with an annual interest rate of 3.8%.

The group is in the process of reorganizing the project. After the project is completed, it will mainly engage in wholesale and parallel import of European luxury brand fashion and clothing, handbags, shoes and other accessories in Hongkong and China. Wholesale and retail "Hydrogen" brand clothing products and accessories in Hongkong and China; retail "Philosophy" brand luxury fashion and clothing, handbags, shoes and other accessories in Hongkong, and wholesale products in China; and wholesale "Mariella Rosati" brand luxury fashion and clothing, handbags, shoes and other accessories in Hongkong and China.

The reorganization plan will be completed at the completion time.

It is committed to ensuring that the net profit will be no less than $36 million before and after the 3 year of March 31, 2015.

The directors believe that the growth potential of China's high-end luxury goods market is favorable. It is believed that the acquisition will facilitate the group to invest in the market and help the group expand its income base.