Core Viewpoint - The company, Lianya Group, has decided to strategically review its franchise brand portfolio and business objectives, leading to the early termination of its Reebok franchise agreement in certain regions, which is expected to result in a non-cash gain of approximately HKD 120 million to HKD 130 million by the end of 2025 [1][2]. Group 1 - The company will terminate its Reebok franchise agreement in mainland China, Hong Kong, Macau, and Taiwan, effective December 31, 2025, to better allocate resources for long-term growth [1]. - The early termination of the Reebok franchise agreement will allow the company to avoid future minimum franchise fee payments, which were initially recognized at the start of the agreement [1]. - The anticipated non-cash gain from the termination will be recorded in the consolidated financial statements for the year ending December 31, 2025 [1]. Group 2 - Despite the termination of the Reebok franchise agreement, the company will continue to operate its multi-brand distribution business through other franchises and its own brands, complementing its robust garment business [2].
联亚集团(00458.HK)提前终止中国地区Reebok特许经营权安排