ZYY (08223) announced that the company has entered into a non-legally binding memorandum of understanding (MOU) with Bonjour Supply Chain Management Limited, a subsidiary of Bonjour Holdings Limited (Stock Code: 00653.HK), on December 11, 2025. The MOU outlines the preliminary cooperation intentions between the parties, subject to the execution of a formal agreement with specific terms and conditions.

Under the MOU, ZYY and Bonjour Supply Chain agreed to promote comprehensive strategic cooperation, leveraging their respective strengths for mutual benefits. The collaboration aims to expand cross-border business development and enhance market cooperation. Key aspects of the partnership include:

1. **Complementary Strengths**: Utilizing Bonjour Group's leadership in the beauty retail industry and ZYY's nationwide operational experience and sales resources in China, both parties will collaborate in market expansion, product development, equipment, and talent sharing to explore mutually beneficial business models.

2. **Greater Bay Area Cooperation**: ZYY and Bonjour Supply Chain intend to establish a joint venture to leverage their combined strengths in creating online and offline "community smart duty-free stores" within the Greater Bay Area, pioneering a new cross-border retail model.

3. **Business Authorization**: Bonjour Group plans to authorize ZYY with sales rights for certain products and equipment in the Greater Bay Area. ZYY will utilize its extensive sales network in mainland China to enhance market penetration, achieving a win-win outcome.

Bonjour Supply Chain, established in 2021, operates under Bonjour Holdings' "Beauty, Health & Beautiful Life" concept. Since 2020, Bonjour Group has actively promoted "technology + consumption," leading the 5G digital economy transformation from a traditional beauty retailer to a global e-commerce enterprise. The group focuses on international products, trade, supply chain services, and cross-border e-commerce.

ZYY's Board believes the MOU marks a new phase in the group's expansion into cross-border retail, providing opportunities for business diversification. The strategic partnership with Bonjour Group is expected to broaden ZYY's market presence, diversify revenue streams, and strengthen its competitive edge. The Board considers the MOU to be in the best interests of the company and its shareholders.