Le Tree to Form Medical Aesthetics Joint Venture in Xiamen with 70% Stake

MT Newswires09-25

Le Tree's (SGX:E6R) wholly-owned Chinese subsidiary entered into a joint venture agreement with Xiamen Jingxin Meiye Technology to establish Xiamen Jingzi Aesthetics Management in Xiamen, Fujian Province.

The joint venture will have a registered capital of 2 million yuan, with the Chinese subsidiary subscribing 70% equity interest, while Jingxin Meiye will hold the remainder 30% stake.

The new unit will be principally engaged in medical aesthetics, retail store and clinics business, health management services, and supply chain trading, according to a bourse filing on Friday.

The board of directors will comprise five directors, with the group appointing three and retaining majority control, while Zhang Mingqi of Jingxin Meiye is proposed as general manager and Lin, Yiyi as legal representative.

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