FUTURE BRIGHT (00703) plans to establish a joint venture with a joint venture partner

Zhitong Finance App News, FUTURE BRIGHT (00703) announced that on August 25, 2026 (after the end of the trading period), Jiajing Catering (a direct wholly-owned subsidiary of the Company) and the joint venture partner (an independent third party) agreed to establish a joint venture with the joint venture company. Among them, Jiajing Restaurant will hold two-thirds of the rights, while the joint venture partner will hold one-third of the rights. The main business of the joint venture is to develop, operate and manage catering businesses in the region (i.e. Hong Kong, Macau and Guangdong, China).

As part of the establishment of the joint venture, Jiajing Catering, the joint venture partner, Mr. Yanase, BreakBeats and the joint venture entered into a shareholder agreement on August 25, 2026 (after the end of the trading period). Both the joint venture partner and BreakBeats are wholly owned by Mr. Yanase. Mr. Yanase and BreakBeats each entered into a shareholder agreement as guarantors of the joint venture partner to provide certain commitments and guarantees for the joint venture partner to fulfill its responsibilities under the shareholder agreement.

According to the shareholders' agreement, (including) Jiajing Restaurant will grant default subscription rights and impasse subscription rights to the joint venture partner; and the joint venture partner will grant Jiajing Restaurant the right to default the contract and the right to the Jiajing impasse.

Mr. Yanase is an experienced catering entrepreneur with extensive experience in the restaurant industry. He is the founder of four ramen restaurants in Tokyo, Japan. Among them, RamenBreakbeats was recommended by Michelin Bibiden in 2024, 2025, and 2026 in the “Tokyo Michelin Guide”, confirming its recognized excellence in food quality, restaurant operation, and customer experience. Mr. Yanase will contribute his culinary and industry expertise, strategic insight and business contacts, which are critical to the Group's growth and development. These deals represent a strategic partnership that brings together the unique strengths, expertise, resources and networks of both parties to create new business opportunities and expand market opportunities. The partnership is expected to promote innovation, strengthen operational capabilities, and provide a more robust platform for sustainable growth, while leveraging shared resources and expertise to achieve long-term success.