Guan Chao Holdings Announces Key Service Agreement with Hangzhou Huashen Network Technology

Significant Development in E-Commerce Operations and Market Expansion

Guan Chao Holdings Limited (Stock Code: 1872) has issued a voluntary announcement regarding a legally binding service agreement entered into by its subsidiary, Shenzhen Groland, with Hangzhou Huashen Network Technology Co., Ltd. This agreement marks a major strategic move for the company, focusing on accelerating its e-commerce presence on key platforms such as Tmall and Douyin, and is expected to influence shareholder value and the company’s share price.

Key Points of the Service Agreement

• Definitions:
  • GMV (Gross Merchandise Value): Total amount of paid orders from designated online stores (e.g., Tmall, Douyin).
  • GSV (Gross Sales Value): Net settlement after refunds and cancellations.
  • ROI (Return on Investment): Ratio of total order amount to actual ad spend.
• Scope of Collaboration:
  • Divided into four progressive stages, advancing only if assessment metrics are met and no unilateral termination by Shenzhen Groland.
  • Services provided include daily store operations, visual design, marketing and traffic acquisition, live-stream operations, and professional customer service.
• Detailed Service Scope:
  • Daily agency operation and management of Tmall and Douyin stores, including product listings, inventory, and brand image maintenance.
  • Comprehensive marketing plans, ad-budget management, and real-time ROI monitoring.
  • Live-stream operations with strict compliance against false claims or prohibited terms.
  • Customer service with strict performance metrics for reply rate and satisfaction.

Financial and Performance Metrics: Stage-by-Stage Breakdown

1. Stage One (1 July 2026 – 30 September 2026):
   • GMV baseline: RMB8,160,000. Passing threshold: RMB5,710,000 (70% of baseline).
   • Douyin ROI floors: July: 1.0; August: 1.25; September: 1.5.
   • Tmall promotion fee ratio: Max 30%.
   • Service fee: RMB600,000 fixed.
   • Failure to meet metrics for two consecutive months allows unilateral contract termination with no compensation.
2. Stage Two (1 October 2026 – 31 December 2026):
   • GMV baseline: RMB14,300,000. Threshold: RMB10,010,000.
   • Douyin ROI: Minimum 1.8; Tmall promotion fee ratio: Max 30%.
   • Fee: RMB645,000 fixed plus 1% commission on monthly GSV.
3. Stage Three (1 January 2027 – 30 June 2027):
   • GSV baseline: RMB26,497,500 (six months).
   • Douyin ROI: Minimum 2.5 (floor 2.0 allowed); Tmall fee ratio: Max 30%.
   • Fee to be mutually agreed before stage ends, based on workload and results. 80% prepaid. If not agreed, automatic termination with no liability.
4. Stage Four (1 July 2027 – 31 December 2027):
   • Annual GMV target: RMB100,600,000.
   • Douyin ROI: Minimum 2.5 (floor 2.0); Tmall fee ratio: Max 30%.
   • Fee reconfirmed based on actual staffing and workload; 80% prepaid. Failure to agree fee before expiry of Stage Three means automatic termination, no liability.

Termination Clauses

• If the Business Partner fails to meet GMV or process metrics at the end of any stage, Shenzhen Groland may unilaterally terminate the agreement within 5 business days with no further liability or compensation.
• If process metrics (e.g., ROI or Tmall promotion fee ratio) fail for two consecutive months and are not remedied within five days of written notice, immediate termination is allowed.

Financial Impact and Shareholder Sensitivity

The agreement, though not requiring notification under Chapter 14 of the Listing Rules due to transaction size, is significant for shareholders because it directly impacts the company’s revenue growth, e-commerce market expansion, and operational efficiency. The budget for the transaction relies on the company’s ongoing working capital and may require secondary equity or debt financing if needed.

The Board believes that combining Shenzhen Groland’s product, manufacturing, and regulatory strengths with the Business Partner’s digital marketing and e-commerce execution will accelerate market entry, boost customer acquisition, improve conversion rates, and enhance user retention. Efficient allocation of responsibilities is expected to reduce risks and support sustainable long-term growth in the Chinese market.

Shareholder Guidance

Shareholders and investors should closely monitor subsequent announcements and consider the potential impact of the agreement’s success or failure on the company’s share price. Failure to meet sales targets or metrics could result in termination of the collaboration, which may affect the company’s growth trajectory and market perception.

Board Composition

The Board comprises executive, non-executive, and independent directors with diverse backgrounds, ensuring robust governance over strategic decisions.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should exercise caution and consult their financial advisors before making investment decisions based on this announcement.

冠轈控股與杭州華深網路簽訂服務協議詳情分析

電子商務合作與市場擴展重大發展

冠轈控股有限公司（股票代號：1872） 公布旗下深圳冠轈與杭州華深網路科技有限公司簽訂具法律約束力的服務協議。此協議是公司加速進軍Tmall、抖音等主要電商平台的重要策略舉措，可能影響股東價值及股價。

協議重點

• 定義：
  • GMV（商品交易總額）： 指指定線上店鋪（如Tmall、抖音）消費者已付款訂單總額。
  • GSV（商品銷售總額）： 扣除退款和取消後的淨結算金額。
  • ROI（投資回報率）： 訂單總額與實際廣告費用的比率。
• 合作範圍：
  • 分為四個階段，須達標才可進入下一階段，深圳冠轈有權單方終止協議。
  • 服務內容包括日常店鋪運營、視覺設計、營銷推廣、直播運營及專業客服。
• 詳細服務內容：
  • 負責Tmall、抖音店鋪日常運營、商品上架、庫存監控、品牌形象維護。
  • 制定營銷計劃、廣告預算管理、實時監控ROI。
  • 直播運營嚴禁違規宣傳及平台禁用詞。
  • 客服需達到高回覆率和滿意度。

財務與業績指標：分階段詳情

1. 第一階段（2026年7月1日 – 9月30日）：
   • GMV基線：816萬元，達標線：571萬元（70%）。
   • 抖音ROI底線：7月1.0、8月1.25、9月1.5。
   • Tmall推廣費比率最高30%。
   • 服務費：固定60萬元。
   • 連續兩月不達底線可無賠償終止合同。
2. 第二階段（2026年10月1日 – 12月31日）：
   • GMV基線：1430萬元，達標線：1001萬元。
   • 抖音ROI最低1.8，Tmall推廣費比率最高30%。
   • 服務費：固定64.5萬元，另加每月GSV1%佣金。
3. 第三階段（2027年1月1日 – 6月30日）：
   • GSV基線：2649.75萬元（六個月）。
   • 抖音ROI最低2.5（運營底線2.0），Tmall推廣費比率最高30%。
   • 費用需雙方確認，按實際工作量預付80%，未達共識自動終止，無責任。
4. 第四階段（2027年7月1日 – 12月31日）：
   • 全年GMV目標：1.006億元。
   • 抖音ROI最低2.5（底線2.0），Tmall推廣費比率最高30%。
   • 費用根據實際工作量預付80%，若未達共識自動終止，無責任。

終止條款

• 各階段未達GMV或指標，深圳冠轈可於5個工作日內單方終止，無責任。
• 指標連續兩月不達標且五日內未整改，可即時終止。

財務影響及股東敏感事項

本協議雖因交易規模無需通報，但對股東具重要意義，直接關係公司收入增長、電商市場擴展及運營效率。協議預算依賴現金流，必要時可進行二次股權或債務融資。

董事會認為，深圳冠轈的產品、製造、合規優勢與合作方的數字營銷、電商執行能力結合，可加速市場進入，提升客戶獲取、轉化率及用戶留存，分工協作降低風險，支持長期可持續增長。

股東指引

股東及投資者應密切關注後續公告，協議達標或失敗將直接影響公司成長及市場預期，可能帶來股價波動。

董事會組成

董事會有多位執行、非執行及獨立董事，確保決策透明和穩健。

免責聲明

本文章僅供參考，不構成投資建議。投資者需審慎評估，並諮詢專業意見。

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