A subsidiary of Jingfu Group (00280) entered into a diamond jewellery purchase agreement with a yearly limit of HK$20 million

According to the Zhitong Finance App, Jingfu Group (00280) issued an announcement. The buyer, Jingfu Jewelry Group Co., Ltd. (a wholly-owned subsidiary of the Company), signed an agreement on December 15, 2025 to purchase diamond jewelry from the seller Wanya Jewelry Co., Ltd. from the date of the agreement until September 14, 2026, with a maximum annual limit of HK$20 million.

The seller was a company wholly owned by Mr. Sin and his mother. Mr. Sin is a non-executive director of the Company.

In order to meet market demand, the Group decided to expand the range of diamond jewelry products and began seeking more diamond jewelry suppliers. After comparing the products of various potential suppliers, the Group found that the quality and design of the diamond jewellery provided by the seller met its requirements, and began purchasing diamond jewellery from the seller on September 15, 2025, at a total price of HK$433,700. The Group was satisfied with the initial transaction and subsequently purchased diamond jewellery from the seller for a total price of HK$934,000. The Group plans to continue to procure when required for its business operations to meet part of its inventory requirements, and therefore entered into this agreement.