| |
On 9 February 2010, Chart Victory Limited (“Chart Victory”), a 100% subsidiary of China Haidian Holdings Limited (the “Company”) signed a distribution agreement with Princess Yachts International plc (“Princess Yachts”), one of the leading British luxury yacht builders. Chart Victory will act as the sole distributor of Princess Yachts, selling its yachts in Hong Kong (the “Distribution”).
Princess Yachts was established in Plymouth, UK in 1965 and distributes luxury yachts globally. It owns and operates in over 1,000,000 square feet of vertically integrated factory facilities.
In May 2008, Princess Yachts was acquired by L Capital 2 FCPR, an investment group sponsored by Group Arnault and LVMH, the international luxury brands group.
The directors of the Company believe that the Distribution not only provides an opportunity for the Company to develop experience to work with a well-known international brand but also generates revenue from a business segment that is increasingly strong in Hong Kong. |
