MOKINGRAN (02585) intends to sell 51% of Shenzhen e-commerce subsidiary for RMB 19.73 million.

MOKINGRAN (02585) announced that on March 25, 2026, the company's wholly-owned subsidiary Shandong E-commerce signed a share transfer agreement with Shenzhen Jingjianhui, under which Shandong E-commerce will sell 51% of the shares of Shenzhen E-commerce to Shenzhen Jingjianhui for a price of RMB 19.73 million. After this transaction is completed, Shandong E-commerce will no longer hold any shares of Shenzhen E-commerce, and Shenzhen E-commerce will no longer be a subsidiary of the company. Shenzhen E-commerce is a limited liability company jointly established by Shandong E-commerce and the president of Shenzhen Jing on August 22, 2018, with a registered capital of RMB 3 million. Shandong E-commerce contributed RMB 1.53 million, holding 51% of the shares, while the president of Shenzhen Jing contributed RMB 1.47 million, holding 49% of the shares. Shenzhen E-commerce is mainly engaged in wholesale and retail business of jewelry. Currently, Shenzhen E-commerce wholly owns Lhasa Jingjianhui and MOKINGRAN Media. Lhasa Jingjianhui has a registered capital of RMB 1 million, while MOKINGRAN Media has a registered capital of RMB 100,000. Both subsidiaries are mainly engaged in wholesale and retail business of jewelry. With the full implementation of the company's brand upgrade strategy, sales on the e-commerce platform are shifting towards high-precision, high-value-added products. In line with the company's brand strategy, the company plans to divest its stake in Shenzhen E-commerce. After this transaction, Shenzhen E-commerce will become an online authorized distributor responsible for the sales of regular products. At the same time, the company will continue to operate its direct sales e-commerce business, aligning with the brand upgrade strategy to create a dual online direct sales + franchise sales development model, which is conducive to the expansion and improvement of the company's e-commerce platform business.