Lao Fengxiang Set Up A Joint Venture To Dig "The Bund Cattle".

　　 Lao Fengxiang [33.90 5.41% shares] (600612) today announced that the company holding subsidiary Shanghai Lao Fengxiang Co., Ltd. intends to jointly establish Shanghai old Feng Xiang -MODICA Craft Gift Co., Ltd. with joint venture with foreign natural persons. The registered capital of craft gift company is 2 million US dollars. Among them, Shanghai Lao Fengxiang limited company invested 1 million 400 thousand dollars in cash, accounting for 70%; MODICA invested 600 thousand dollars in copyright, accounting for 30%.

The announcement shows that after the joint venture is set up, it will focus on the development of products based on "the Bund cattle", including precious metals and non-metallic "the Bund cattle" gifts, tourist souvenirs, postal products, ornaments, practical souvenirs, etc. The payback period of the joint venture investment project is 5 years and 3 months.

Lao Fengxiang said that the domestic tourism industry flourished and the handicraft market continued. increase Against the background of Shanghai's new landmark "The Bund cattle" The statue will continue to enhance its popularity and become a world-famous tourist spot, like New York Wall Street cattle, relying on its own attractiveness and the influence of Shanghai's cosmopolitan metropolis.

According to statistics, 500 thousand people pass the statue of "the Bund bull" every day, and its commercial value is very potential. At the same time, under the premise of the rapid development of the domestic handicraft industry, with the promotion of the popularity of "the Bund cattle" and the brand of Lao Fengxiang, the "the Bund cattle" related handicrafts will have a very broad market prospect. In order to seize the business opportunities brought by "the Bund cattle", the company decided to set up a joint venture to expand the handicraft market with the advantages of both sides, so as to enhance the profit margin of the company.

It is understood that the foreign natural person Arturo Di Modica was born in Italy Sicily, after graduating from University, emigrated to the United States for art and design work. The well-known Wall Street bull is the masterpiece of Arturo Di Modica.