Non-wholly Owned Subsidiary of Reach New Holdings Limited Entered into Strategic Cooperation Agreement with the Hoi Tin Tong

Tapping into food industry, Further Deploying Mini Program Business
HONG KONG, June 11, 2020 /PRNewswire/ — An established labelling solution provider and a one-stop garment accessories manufacturer and supplier based in the PRC, Reach New Holdings Limited (the "Reach New Holdings" or the "Company", Stock code: 8471.HK), is pleased to announce that Guangzhou Banchengyun Information Technology Co. Ltd. ("Guangzhou Banchengyun"), a non-wholly owned subsidiary of the Company, entered into strategic cooperation agreement (the "Agreement"), in relation to the Greater Bay Area market with well-known healthcare companies, Hoi Tin Tong Company Limited and Huizhou Hoi Tin Tong Healthcare Product Company Limited (collectively "Hoi Tin Tong") after the trading hours on 11 June. Taking lead in cooperating with Hoi Tin Tong on the self-developed small businesses mini programs enables Guangzhou Banchengyun to tap into food industry, and further deepening its strategic business layout. According to the Agreement, Guangzhou Banchengyun will leverage its abundant resources and advantages of professional technical team to establish digital marketing solutions that meet market needs of the Greater Bay Area (including Hong Kong) for Hoi Tin Tong, which is a comprehensive chain specialty store with over 100 stores in Hong Kong and in the PRC, that selling food concocted with Chinese traditional healthcare food and herbal drinks. Guangzhou Banchengyun will customize a one-stop digital marketing solution for customers’ operations, from building private domain traffic to sales conversion, and help Hoi Tin Tong further enhance online customer relations, online products and services, as well as increase revenue. Meanwhile, Guangzhou Banchengyun will also provide mini program application training for Hoi Tin Tong’s in-house staff, so that relevant staff can master application of the mini program as soon as possible to increase operational efficiency. Mr. Lam Kai Yuen, CEO of Reach New Holdings Limited said, "Our Company has applied diversified business development strategy to create different income sources, and minimize the harms that brought by the economic environment and the CONVID-19. The Company actively extends its business into various industries by taking lead in deploying the mini program as an entry point. The cooperation with Hoi Tin Tong creates an opportunity for the Company to enter the food industry. Guangzhou Banchengyun will be entitled to revenue by way of turnover sharing to share benefits to be brought by the vast market of the Greater Bay Area with Hoi Tin Tong." About Reach New Holdings Limited (stock code: 8471.HK) Reach New Holdings Limited, listed on GEM of HKEx in July 2017, stock code: 8471.HK, is an established labelling solution provider and a one-stop garment accessories manufacturer and supplier based in the PRC, mainly engaging in three types of products which are (i) printed products, (ii) woven labels, and (iii) printed labels;. The Company also sources and sells other garment accessories, such as tapes, hanging tablets, string locks, leather badge, buttons, and metal products, to the customers in the PRC. With its good reputation, the Company is committed to providing quality products and service to customers include (i) garment brand companies, (ii) sourcing companies designated by garment brand companies, and (iii) garment manufacturers in the PRC. For more details, please refer to: http://www.sthl.com.hk/tw/index.html About Hoi Tin Tong Company Limited Hoi Tin Tong Company Limited is a chain specialty store selling food concocted with Chinese traditional healthcare food and herbal drinks in Hong Kong and in the PRC. Hoi Tin Tong incorporates Chinese healthcare food into most of its products and is well-known for its herbal jelly. Apart from herbal jelly, Hoi Tin Tong also strives to develop Healthy Herbal Drink Series, Chinese Soup Series and Chinese Herbal Gummy Series. Together with all branches in Hong Kong, Hoi Tin Tong currently has over 100 stores.
Source: prnasia