irasia.com - Jiu Rong Holdings Limited

Jiu Rong Holdings Limited
(Formerly known as Mitsumaru East Kit (Holdings) Limited)
(Incorporated in the Cayman Islands with limited liability)

Corporate Profile

The Group has six principal business activities.

(i) Digital Video Business

The Group through its wholly owned subsidiaries, Soyea Jiu Rong Technology Co., Ltd.* (數源久融技術有限公司 ) ("Soyea Jiu Rong") and Zhe Jiang Jiu Rong Intelligent Technology Limited* (浙江久融智能技術有限公司 ) ("Jiu Rong Intelligent") carries out the research and development, manufacturing and sales of smart television and digital television ("TV"), high definition liquid crystal display TV and set-top box as well as provision of application of solutions regarding integration of tele-communication, TV and internet in the digital audio visual industry.

(ii) New Energy Vehicles Business

The Group through its wholly owned subsidiary, Jiu Rong New Energy Science and Technology Limited* (久融新能源科技有限公司 ) ("Jiu Rong New Energy") carries out the construction, application and management of new energy vehicles and related products, charging facilities and intelligent management systems and processing services in relation to new energy vehicles spare parts.

(iii) Cloud Ecological Big Data Business

The Group through its wholly owned subsidiary, Hangzhou Yunqi Cloud Data Limited* (杭州云栖云數据有限公司 ) ("Yunqi Cloud Data") carries out the application and management of cloud ecological big data.

(iv) Properties Development

The Group through its wholly owned subsidiary, Hangzhou Lu Yun Property Limited* (杭州綠云置业有限公司 ) ("Lu Yun") carries out the properties development of big data industrial park in Hangzhou. It is expected that the park will establish a "Cloud Ecological System" to build a new generation of information technology (such as AR/VR, face recognition, digital maps, etc.) and communication technology, such as Internet of Things, big data, cloud computing, (such as 5G, LTE-V, NB-IOT, etc.) throughout the cloud industry park in all aspects, to create the country's first all-intelligent perception, interoperability cloud ecological park. The Group completed (i) the acquisition of 46% equity interests of Heilongjiang Xin Luzhou Real Estate Development Limited* (黑龙江新綠洲房地產開发有限公司 ) ("Xin Luzhou") in 2018, Xin Luzhou will be an associate of the Company to principally engage in the development of industrial park, commercial and residential properties in Limin Avenue, Limin Development Zone, Harbin, the PRC; and (ii) the formation of Wen Zhou Jing Du Guan Rong Technology Co., Limited* (温州市景都冠榮科技有限公司 ) ("Jing Du Guan Rong") in 2022, Lu Yun is interested in 48% equity interests in Jing Du Guan Rong and Jing Du Guan Rong will be an associate of the Company to principally engaged in the industrial park and Properties Development business. In view of current PRC property market conditions, in the fourth quarter of 2023, Jing Du Guan Rong terminated the property development project and applied to the relevant government authorities to withdraw the land-use rights. Jing Du Guan Rong has provided an impairment loss in its management accounts during the year ended 31 December 2023. The Group recorded a share of loss in this associate and the Group's carrying amount of the interest in Jing Du Guan Rong as at 31 December 2023 is HK$Nil.

(v) Properties Investments

The Group through its wholly owned subsidiary, Lu Yun to conduct the properties investment for rental income from the big data industrial park in Hangzhou.

(vi) General Trading

General trading of commodities and goods.

updated as per Annual Report 2023

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(i)	Digital Video Business

	The Group through its wholly owned subsidiaries, Soyea Jiu Rong Technology Co., Ltd.* (數源久融技術有限公司 ) ("Soyea Jiu Rong") and Zhe Jiang Jiu Rong Intelligent Technology Limited* (浙江久融智能技術有限公司 ) ("Jiu Rong Intelligent") carries out the research and development, manufacturing and sales of smart television and digital television ("TV"), high definition liquid crystal display TV and set-top box as well as provision of application of solutions regarding integration of tele-communication, TV and internet in the digital audio visual industry.

(ii)	New Energy Vehicles Business

	The Group through its wholly owned subsidiary, Jiu Rong New Energy Science and Technology Limited* (久融新能源科技有限公司 ) ("Jiu Rong New Energy") carries out the construction, application and management of new energy vehicles and related products, charging facilities and intelligent management systems and processing services in relation to new energy vehicles spare parts.

(iii)	Cloud Ecological Big Data Business

	The Group through its wholly owned subsidiary, Hangzhou Yunqi Cloud Data Limited* (杭州云栖云數据有限公司 ) ("Yunqi Cloud Data") carries out the application and management of cloud ecological big data.

(iv)	Properties Development

	The Group through its wholly owned subsidiary, Hangzhou Lu Yun Property Limited* (杭州綠云置业有限公司 ) ("Lu Yun") carries out the properties development of big data industrial park in Hangzhou. It is expected that the park will establish a "Cloud Ecological System" to build a new generation of information technology (such as AR/VR, face recognition, digital maps, etc.) and communication technology, such as Internet of Things, big data, cloud computing, (such as 5G, LTE-V, NB-IOT, etc.) throughout the cloud industry park in all aspects, to create the country's first all-intelligent perception, interoperability cloud ecological park. The Group completed (i) the acquisition of 46% equity interests of Heilongjiang Xin Luzhou Real Estate Development Limited* (黑龙江新綠洲房地產開发有限公司 ) ("Xin Luzhou") in 2018, Xin Luzhou will be an associate of the Company to principally engage in the development of industrial park, commercial and residential properties in Limin Avenue, Limin Development Zone, Harbin, the PRC; and (ii) the formation of Wen Zhou Jing Du Guan Rong Technology Co., Limited* (温州市景都冠榮科技有限公司 ) ("Jing Du Guan Rong") in 2022, Lu Yun is interested in 48% equity interests in Jing Du Guan Rong and Jing Du Guan Rong will be an associate of the Company to principally engaged in the industrial park and Properties Development business. In view of current PRC property market conditions, in the fourth quarter of 2023, Jing Du Guan Rong terminated the property development project and applied to the relevant government authorities to withdraw the land-use rights. Jing Du Guan Rong has provided an impairment loss in its management accounts during the year ended 31 December 2023. The Group recorded a share of loss in this associate and the Group's carrying amount of the interest in Jing Du Guan Rong as at 31 December 2023 is HK$Nil.

(v)	Properties Investments

	The Group through its wholly owned subsidiary, Lu Yun to conduct the properties investment for rental income from the big data industrial park in Hangzhou.

(vi)	General Trading

	General trading of commodities and goods.