Semir Overweight High-End Women'S Clothing Acquisition Of JASON WU Parent Company 11% Stake

Semir New York fashion Zhou Daxiu

Following the September 12th fashion week in New York, the "China YOUNG" blossomed in New York, and Semir immediately released a heavy cooperation.

On the evening of September 13th,

It announced that it had passed the motion on signing the subscription agreement with JWU, LLC., and the signing of the joint venture contract with JWU and LLC..

Under the subscription agreement,

JWU will be subscribed for 0.70 US dollars per share, and 7104140.37 shares of the new issue of LLC. will amount to 5 million US dollars. According to the September 12, 2018 exchange rate, the 6.8546 yuan (the same below) of the US dollar to the US dollar is equivalent to 34 million 273 thousand yuan.

After the capital increase is completed, the company will hold a JWU, LLC. 11% stake.

The announcement shows that Semir intends to set up Jason Wu (Shanghai) Garments Co., Ltd. (hereinafter referred to as "joint-venture company") with its own capital of 45 million yuan and JWU and LLC. together, accounting for 75% of the registered capital.

The joint venture will develop and operate related businesses in China, Hongkong Special Administrative Region and Macao Special Administrative Region, including the promotion of JASON WU, GREY JASON WU and JWU, LLC. related JASON WU related brands (hereinafter referred to as "JWU brand") to design, produce and sell JWU series brand products and businesses besides perfume products.

It is reported that the joint venture's business scope covers clothing and apparel.

The manufacture, design, sales, import and export, technology development, technology pfer and business consultation of cosmetics (except perfume), glasses and household products.

JWU, LLC. is founded by the famous young Chinese fashion designer Wu Jigang in the United States, and Wu Jigang is also the founder of the "JASON WU" high fashion brand.

Wu Jigang has won the new star award of the international fashion group and the American Fashion Fund Award.

The JASON WU brand was founded in 2007 and is located in China.

The product is mainly aimed at 25-40 year old women with fashion and economic foundation.

At present, JASON WU brand is mainly sold in high-end shopping malls and boutiques.

According to the Mayer Hoffman McCann accounting firm audited by us accounting standards JWU, LLC. 2017 annual financial report, total assets amounted to US $22786255 in 2017, total liabilities amounted to US $3936001, operating income was US $9810968, and net profit was US $-5557727.

In response to the proposed new subscription of JWU, LLC. and joint venture with JWU and LLC., Semir said it would help the two sides to establish stable cooperative relations and give full play to their respective resource advantages.

At the same time, it is also in line with the implementation and development of Semir's multi brand strategy, enriching the brand matrix and promoting the construction of Semir's high-end international brand camps.