Jumbo Group forms Xi’an JV with Beijing Hualian

The $276k JV will operate under the Jumbo Seafood brand.

Jumbo Group announced that its indirect wholly-owned subsidiary, Jumbo F&B Services (Shanghai) Co., Ltd. (JFSL), has signed a joint venture (JV) agreement with Beijing Hualian F&B Management Co., Ltd. (BHFB) to set up a company in Xi’an, China, to operate a restaurant under the “Jumbo Seafood” brand.

The JV will be a limited liability company registered in Xi’an with registered capital of $276k (RMB1.5m).

Beijing Hualian will contribute $220k (RMB1.2m) for an 80% stake, whilst Jumbo F&B Services (Shanghai) will invest $55k (RMB300k) for a 20% stake.

Once incorporated, the JV will be treated as an indirect associate of Jumbo Group.

Jumbo said in a bourse filing that its investment will be funded through internal resources and is not expected to have a material impact on the group’s net tangible assets or earnings per share for the financial year ending 30 September 2026.

($1 = RMB5.4)

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