Core Viewpoint - The investment by the company in MAP is aimed at expanding its presence in the luxury goods market in the Asia-Pacific region, despite MAP not having commenced operations yet [1][2]. Group 1: Investment Details - The company plans to acquire a 20% stake in MAP at a pre-investment valuation of $96 million, which represents a significant premium over its book value [1]. - The post-investment valuation is set at $120 million, with the premium primarily based on MAP's distribution model and future revenue expectations [2]. - The investment is based on a careful assessment of MAP's business plan, which indicates a compound annual growth rate of 36.5% over the past four years for its parent company, MIOL [2]. Group 2: Strategic Rationale - The investment is intended to enhance the company's high-end product line and address increasing competition in the domestic gold and jewelry industry [2]. - The company will act as the exclusive distributor for MAP in the Asia-Pacific region, with a minimum purchase agreement of $13 million from 2025 to 2027 [3]. - A return mechanism is included in the agreement to mitigate the risk of unsold inventory, and protective clauses are in place to allow the company to terminate the deal if trademark authorization is not obtained [3].

Core Viewpoint - The company, Lao Feng Xiang, aims to enhance its brand image and value by establishing a luxury company through a joint investment of 50 million RMB from its subsidiaries, targeting the high-end market and catering to the demand for high-quality products [1] Group 1 - The establishment of the luxury company will help align with future international and high-end investment requirements [1] - The new company will serve as a high-end product investment and operation management center in the core market, integrating mid-to-high-end and customized product resources and operations [1] - This initiative is expected to increase the influence and market share of the Lao Feng Xiang brand in the luxury market [1]