An indirect wholly-owned subsidiary of Anta Sports entered into certain sales and purchase agreements with certain Mayiya Clothing (Shanghai) Co., Ltd shareholders.
Under the Sales and Purchase Agreements, the Mayiya shareholders conditionally agreed to sell, and Anta Sports conditionally agreed to purchase 75.13 percent equity interests in Mayiya Clothing. Upon completion of the acquisition, Mayiya, alongside its subsidiaries, will become an indirect, non-wholly-owned subsidiary of Anta Sports. The remaining shareholders of Mayiya were also granted the right to sell their remaining equity interests to Anta Sports at an agreed pricing basis.
The Board said, to the best of its knowledge, information and belief, having made all reasonable inquiries, the Mayiya shareholders and their respective ultimate beneficial owner(s) are third parties independent of, and not connected with, Anta Sports and its connected persons, as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.
Mayiya Clothing was incorporated in 2016 in Shanghai and operates the “Maia Active” business, a sportswear brand designed for Asian women. Adhering to the design philosophy of “inspiring Asian women to enjoy the beauty of athletics,” the brand is reportedly “dedicated to bringing a better sports experience to Asian women.”
Leveraging technical sports fabrics and a fit system tailored to Asian women, Maia Active manufactures women’s sportswear, especially yoga apparel.
Anta Sports said in a release that the Maia Active business has established a strong brand presence among female
consumers, particularly in the yoga sports category, which has gained market influence and has found brand salience among consumers with potential for future growth. Furthermore, Anta said that its brand management expertise, retail management capabilities and supply chain management abilities can empower Maia Active to enhance its competitive advantage in the Chinese market.
Anta believes that the acquisition will further bolster the company’s brand portfolio by serving as a valuable addition to the Group’s female business segment and strengthening the Group’s ability to provide a product range that meets the needs of a broader customer base.
