Item 1.01 Entry into a Material Definitive Agreement.
On March 20, 2023, Jerash Holdings (US), Inc., a Delaware corporation (the
"Company"), through its wholly owned subsidiary Treasure Success International
Limited, a Hong Kong company ("Treasure Success"), entered into a Joint Venture
and Shareholder's Agreement (the "Agreement") with P.T. Eratex (Hong Kong)
Limited, a Hong Kong company ("Eratex," and together with Treasure Success, the
"Parties"). The Agreement specified the terms and conditions according to which
the Parties will exercise their rights in relation to a newly established joint
venture company in Hong Kong, J&B International Limited ("J&B"), of which
Treasure Success will hold 51% of the equity interests and Eratex will hold 49%.
The Parties agreed that J&B will be run by a team of appointed management staff
and have a board of directors, each as specified in the Agreement, and will
carry on the business of garment trading and manufacturing for orders from
customers that the Parties from time to time consider fit to be undertaken by
J&B. The Agreement contains customary covenants of the Parties, other
obligations and rights of the Parties, and termination provisions.
The foregoing description of the Agreement does not purport to be complete and
is qualified in its entirety be reference to the full text of the Agreement, a
copy of which is filed herewith as Exhibit 10.1 and is incorporated by reference
herein.
Item 8.01 Other Events.
On March 21, 2023, the Company issued a press release to announce the entry into
the Agreement. The press release is furnished as Exhibit 99.1 to this Current
Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Exhibit
10.1 The Agreement dated March 20, 2023 by and between Treasure Success
and Eratex
99.1 Press Release dated March 21, 2023
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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JERASH HOLDINGS (US), INC. 
