Luxey Int'l (8041) announced that on September 25, 2025, the company's wholly-owned subsidiary Varicent (Hong Kong) entered into a framework agreement with Nanjing Zhongke to establish a joint venture company in mainland China.

Under the framework agreement, the joint venture will be held 51% by Varicent (Hong Kong) and 49% by Nanjing Zhongke. Varicent (Hong Kong) will control the board of directors of the joint venture, which will be accounted for as a subsidiary of the company. The joint venture will primarily engage in the development and sales of anti-counterfeiting technology products in mainland China.

Nanjing Zhongke is controlled by Mr. Zhang Weihong, the company's chairman and executive director. Therefore, Nanjing Zhongke is a connected person of the company.