HSSP INTL (03626) Plans Joint Venture with Coty to Distribute Branded E-Cigarette Devices

Stock News10-30

HSSP INTL (03626) announced that on October 30, 2025, its wholly-owned subsidiary East Nova Limited entered into an agreement with Coty Holding Ltd to establish a joint venture in the United Arab Emirates (UAE) for the distribution of branded e-cigarette devices in mutually agreed regions.

The company will hold a 30% stake in the joint venture through East Nova, while Coty will own the remaining 70%. East Nova and Coty will contribute AED 90,000 (approximately HKD 190,000) and AED 210,000 (approximately HKD 440,000), respectively, as their investment in the joint venture. These capital commitments are subject to confirmation by UAE legal counsel upon the formal establishment of the joint venture.

Any further financing for the joint venture will be sourced from third parties or, if shareholder loans are required, Coty will be responsible for providing all such loans as determined by the joint venture's board of directors.

The formation of the joint venture aims to create a strong platform for the company's e-cigarette device business to capitalize on market opportunities. Coty is a diversified investment holding company headquartered in Dubai, UAE, with strategic interests spanning nicotine alternatives, technology, and retail sectors. Through its subsidiaries and affiliates, Coty oversees several leading regional platforms, including ANDS, a market leader in nicotine alternative distribution in the Gulf Cooperation Council (GCC) region, and Smokers Center, a growing retail chain focused on next-generation nicotine products and consumer education.

Leveraging its strong market access, regulatory expertise, and extensive distribution and retail networks in the Middle East and Europe, Coty assists global partners in expanding their operations in high-growth markets.

Additionally, HSSP INTL's wholly-owned subsidiary Alpha Six Three Limited has signed a professional services agreement with an independent service provider to handle the registration and import of "HEAPS" branded e-cigarette products in Australia. This move follows Alpha Six Three's establishment of a subsidiary in New Zealand in November 2024 for e-cigarette device sales. The service provider will guide Alpha Six Three in expanding this business to Australia in compliance with regulatory requirements.

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