CEFC Hong Kong Financial Investment Company Limited (“CEFC Financial”, together with its subsidiaries, “the Group”; stock code: 1520.HK) is pleased to announce that the Group has entered into a licensing agreement (the “Licensing Agreement”) with Chengdu Dreamtoys Cultural Creativity Company Limited (“Chengdu Dreamtoys”) pursuant to which Chengdu Dreamtoys grants the exclusive right of use of the intellectual property right of four animated characters (the “IP Characters”) worldwide to a wholly-owned subsidiary of the Group for the development, production and sales of apparel of the IP Characters for the period from 19 January 2022 to 18 January 2023. Furthermore, the Group has the right to sublicense the IP Characters to third parties upon obtaining consent from Chengdu Dreamtoys.
Chengdu Dreamtoys is principally engaged in the research and development, operation and promotion of trendy cultural products. It has combined blockchain technology, near-field sensing technology, digital interaction and other new digital modules to create a meta-universe IP ecosystem that communicates with digital content. The IP Characters developed by Chengdu Dreamtoys could be used in the production of toys and figures, apparels and virtual images in games. The use of IP Characters in the development of apparel not only increases the variety of the Group’s products, but also helps create apparel products that appeal to the younger generation, enabling the Group to explore the younger generation’s market and accelerate the expansion in the design, manufacturing and trading of its apparel business. At the same time, the Group is proactively seeking more potential intellectual property rights for the production of apparel with the aim to develop new products, and to achieve the purpose of optimising its product portfolio, thereby laying a solid foundation and enhancing growth momentum for the Group.
The Group is committed to diversifying from its current focus of manufacturing private label women apparels and tap into the men and young adults’ markets, with a view to strategically transform itself from women’s apparel manufacturer to an all-rounded trendy apparel product manufacturer. The Group has previously announced its proposed change of company name to “Virtual Mind Holding Company Limited” to better align with the Group’s business development strategies. Meanwhile, the Group has entered into a strategic cooperation agreement with Qingdao Weiding Sports Supplies Company Limited (“Qingdao Weiding”) in trendy apparel markets earlier on and appointed Dr. Zhou Yibing, senior designer of global luxury goods company LVMH Group, as Chief Creativity Officer, to create unique fashion apparel products and accelerate trendy apparels business of the Group through multiple channels.
The management of the Group believes that the grant of exclusive right to use the intellectual property rights of animated characters is in line with the Group’s overall strategic development blueprint, enabling it to expand its business in the trendy apparel market and enhance its core competitiveness. Looking ahead, the Group is poised to seize the huge opportunities in the global trendy apparel market as it further diversifies its product portfolio in trendy apparel and related products, and bring better investment returns to its shareholders.
About CEFC Hong Kong Financial Investment Company Limited
CEFC Hong Kong Financial Investment Company Limited (1520.HK) is principally engaged in (i) design, manufacturing and trading of apparel; and (ii) provision of money-lending business. The Group’s apparel operation is classified into two categories, namely, private label products and own brand products. Private label products are those designed and manufactured under the private labels owned or specified by the Group’s customers, while own brand products are those designed and manufactured under the Group’s proprietary labels. The Group’s production plant is located in Jiaxing in the PRC with most apparel products exported to the U.S. The U.S. market is the principal market for Group’s apparel operation.
For more details, please visit www.cefcfi.com.hk
Topic: Press release summary