Citychamp Watch & Jewellery Group (256) Announces Termination of Connected Transaction

Bulletin Express

10/30

Citychamp Watch & Jewellery Group Limited (256) disclosed that its wholly-owned subsidiary, Union United, entered into a joint venture agreement on 28 September 2016 with JV Partners to establish Citychamp Allied International Limited in the British Virgin Islands. According to the announcement, the joint venture company was registered on 29 November 2016 but remained inactive. Following a notice of resignation from its registered agent dated 3 September 2025, the parties decided to terminate the original agreement on 30 October 2025.

The announcement stated that no termination fees or other compensation were paid in connection with the termination. Citychamp Allied International will cease to exist upon the effective resignation of its registered agent on 2 November 2025. The board of Citychamp Watch & Jewellery Group Limited confirmed that this action does not have any material impact on its business development and financial position.

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