STARPLUS LEGEND: Signed a cooperation agreement for Jay Chou's 2024 Carnival World Tour concerts in Nanjing and Shenzhen
STARPLUS LEGEND has signed a cooperation agreement with Jiangsu Daoxiang and Guangzhou Baohui to jointly invest in Jay Chou's 2024 Carnival World Tour Concert in Nanjing and Shenzhen. The investment amount does not exceed RMB 10 million, and investors can receive 5% of the concert's profits or losses. This move will help STARPLUS LEGEND expand its IP creation and operation business, diversify its revenue sources, and increase its reputation and long-term value
According to the news from Zhitong Finance APP, STARPLUS LEGEND (06683) announced that its indirect wholly-owned subsidiary, Star Creation (Kunshan) Entertainment Co., Ltd. (Star Creation (Kunshan)), has signed cooperation agreements with Jiangsu Daoxiang Culture Sports Investment Co., Ltd. (Jiangsu Daoxiang) and Guangzhou Baohui Culture Development Co., Ltd. (Guangzhou Baohui) for Jay Chou's 2024 Carnival World Tour concerts in Nanjing and Shenzhen.
Under the cooperation agreement with Jiangsu Daoxiang (Nanjing Station Agreement), Star Creation (Kunshan) agreed to jointly invest in the Nanjing concert with Jiangsu Daoxiang. Star Creation (Kunshan) will invest up to RMB 10 million in the concert and will have the right to receive 5% of the profits or losses from the Nanjing concert. The final investment amount by Star Creation (Kunshan) will be determined based on the expenses incurred by Jiangsu Daoxiang in executing the Nanjing concert.
Under the cooperation agreement with Guangzhou Baohui (Shenzhen Station Agreement), Star Creation (Kunshan) agreed to jointly invest in the Shenzhen concert with Guangzhou Baohui. Star Creation (Kunshan) will invest up to RMB 10 million in the concert and will have the right to receive 5% of the profits or losses from the Shenzhen concert. The final investment amount by Star Creation (Kunshan) will be determined based on the expenses incurred by Guangzhou Baohui in executing the Shenzhen concert.
The group is mainly engaged in IP creation, operation, and new retail. In terms of IP creation and operation, by serving as the planner, investor, and/or subcontractor for various large-scale concerts and other offline activities, the group has accumulated rich experience and is actively exploring new business opportunities. The directors believe that the group has successfully invested in multiple concerts in the past, laying the foundation for this investment. In addition, entering into these agreements will help further expand and promote the group's IP creation and operation business, diversify the group's revenue sources, and enhance the group's reputation in the long run, bringing long-term value to the group
