Jumbo Group forms Xi’an JV with Beijing Hualian
The $276k JV will operate under the Jumbo Seafood brand.
Jumbo Group announced that its indirect wholly-owned subsidiary, Jumbo F&B Services (Shanghai) Co., Ltd. (JFSL), has signed a joint venture (JV) agreement with Beijing Hualian F&B Management Co., Ltd. (BHFB) to set up a company in Xi’an, China, to operate a restaurant under the “Jumbo Seafood” brand.
The JV will be a limited liability company registered in Xi’an with registered capital of $276k (RMB1.5m).
Beijing Hualian will contribute $220k (RMB1.2m) for an 80% stake, whilst Jumbo F&B Services (Shanghai) will invest $55k (RMB300k) for a 20% stake.
Once incorporated, the JV will be treated as an indirect associate of Jumbo Group.
Jumbo said in a bourse filing that its investment will be funded through internal resources and is not expected to have a material impact on the group’s net tangible assets or earnings per share for the financial year ending 30 September 2026.
($1 = RMB5.4)
