EVERPRIDE PHAR (HKG:8019) to form a Joint Venture

EVERPRIDE PHAR (HKG:8019) announced that, the Company's Subsidiary entered into a Joint Venture Agreement in relation to the formation of the Joint Venture in the PRC to carry the media technology business. The registered capital of the Joint Venture will be RMB17 million. The Company's Subsidiary will own 29.41% equity interest in the Joint Venture.
 
The Directors are of the view that the formation of the Joint Venture will broaden the Company's income source. It is a good opportunity for the Company to diversify its business to the media business in the PRC.