LEMO SERVICES (02539) announced that on February 12, 2026, after trading hours, the company entered into a joint venture agreement with Shanghai Cat Moment to establish a joint venture entity. The joint venture will primarily engage in providing mechanical massage services in office locations. According to the agreement, LEMO SERVICES and Shanghai Cat Moment will contribute RMB 8 million and RMB 2 million to the joint venture, representing 80% and 20% of its registered capital, respectively. Upon establishment, the joint venture will become a non-wholly owned subsidiary of LEMO SERVICES. The group is primarily involved in providing massage services and continuously explores new market opportunities. The company is discussing potential collaboration with Mr. Chen Xing, an executive director and technical director, aiming to leverage his extensive expertise in core massage chair technology, IoT platforms, and operating systems alongside the company's production capabilities. Given that the mechanical massage business in office settings relies on customized technical adjustments and precise operations, the parties agreed to form the joint venture to achieve synergies in product development and market expansion. The establishment of the joint venture also aligns Mr. Chen Xing's incentives with the success of the venture, ensuring his full commitment of expertise and efforts, which is expected to contribute to the group's overall performance.
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