On the evening of January 3, MONA LISA issued an announcement that MONA LISA Group Co., Ltd. held a board meeting on December 31, 2020, reviewed and approved the Proposal on Signing the Equity Acquisition Framework Agreement.

MONALISA said that this move aims to enrich the company's ceramic product categories and further expand its production and sales capabilities in East China.

The announcement disclosed that PuJing Ceramics was established in Foshan in 2008. It is a company mainly engaged in the research and development, production and sales of architectural ceramics with a registered capital of 120 million yuan. PuJing Ceramics has four production bases in Foshan, Zhaoqing, Enping, and Gaoan.

According to the agreement, PuJing Ceramics intends to use its existing land (approximately 980 acres of industrial land), ground properties (including but not limited to factory buildings, office buildings, staff dormitories, warehouses, etc.), and 9 ceramic production lines (an annual output of ceramic tiles and ceramic plates). Approximately 40 million square meters) and other equipment and facilities related to daily operations will be invested in its wholly-owned Zhimeishande through valuation and capital contribution. Subsequently, MONA LISA will become the controlling shareholder of Zhimeishande.

Up to now, MONA LISA has established production bases in Foshan, Qingyuan and Tengxian. In the first three quarters of 2020, the company's revenue was 3.336 billion yuan, a year-on-year increase of 24.7%; net profit attributable to the parent was 379 million yuan, a year-on-year increase of 24.7%.