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HONG KONG, Mar 12, 2012 - (ACN Newswire) - China Trends Holdings Limited ("China Trends", Stock Code: 8171.HK) is delighted to announce that, Boss (China) Systems Limited ("Boss China"), a subsidiary of the Company entered into a cooperation framework agreement with Boss Dream Cultural Communication Company Limited ("Boss Cultural") and Beijing Flame Chuanxiang Network Technology Limited ("Beijing Flame") today after trading hours. The three parties plan to construct 10,000 military game theme of "Glorious Mission - National Defense Education Experience Centers" in PRC regions within five years, to promote the construction of the national military culture by energy performance contracting (EPC).
According to the agreement, Boss Cultural is responsible for constructing 10,000 military game theme of "Glorious Mission - National Defense Education Experience Centers" in PRC regions by investing in 51% shares. Entrusted by Boss Cultural, Beijing Flame is responsible for promoting and managing 10,000 Experience Centers, and providing management, coordination and guidance to new companies, providing military game software and be responsible for training. The implementation of each "Experience Centre" needs to obtain prior written approval from the Boss Cultural. Boss China is responsible for providing high performance energy-saving all-in-one computer to 10,000 Experience Centre EPC and with not less than 100 high performance energy-saving all-in-one computers to each Experience Centre. All EPC costs are paid by Boss Cultural. The tripartite business plan shall prevail the progress of the cooperation projects under the agreement.
The investment costs required will be shared by Boss Cultural and the third-party investors arranged by Boss Cultural and Beijing Flame. The shares proportions are 51% and 49% respectively. All Experience Centres practice membership system, with not less than RMB500 per person per month. After paying membership fees, members could enjoy the services provided by Experience Centre within a specific period.
Boss Cultural allocates 50% membership fees in aggregate to different Experience Centre in different regions chosen by members, the remaining 50% membership fees would cover the relevant equipment and system costs, EPC costs and advertising cost within the scope of cooperation. While the 10% income of Boss Cultural in the projects under this Agreement and the 10% income of different Experience Centers (not including the food and beverage income) will be paid to Beijing Flame as the promotion and management
Mr Xiang Xin, the Chairman and Executive Director of the Company said, since the PRC government has promulgated the "National Defense Education Act", the national defense education works into a legal and standardized track, with strong support from the PRC government to promote the implementation of EPC to facilitate the development of energy-saving service sector, the Group hopes that through the cooperation framework agreement will speed up the development of EPC business in the field of military culture.
The Group provides energy-saving terminal products and related solutions to customers by mean of energy performance contracting to realize its investment returns, to accelerate the progress of the Group's EPC business. The cooperation will play a complementary role for the provision of CY Foundation Group Limited (Stock code: 1182) made by the Company.
Contact:
China Trends Holdings Limited
Tel: (852) 2111 9988
Direct: (852) 2155 6275
Topic: Press release summary
Source: China Trends
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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