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    VIVC   US9285341064

VIVIC CORP.

(VIVC)
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VIVIC CORP. : Entry into a Material Definitive Agreement (form 8-K)

03/11/2021 | 12:08pm EST

Item 1.01. Entry into a Material Definitive Agreement

On January 3, 2021, Khashing Yachts Industry (Guangdong) Limited Company, our wholly owned subsidiary in Guangzhou, China, entered into a Joint Venture and Cooperation Agreement with Shenzhen Ocean Way Yachts Service Co., Ltd ("Ocean Way"). Under this agreement, we will acquire 60% of the total issued and outstanding shares of Ocean Way and will utilize Ocean Way's established yacht database, yacht resources and its media resources to expedite our growth. We expect to significantly increase the company's influence in the Chinese yacht industry by this transaction.

Ocean Way was formed in 2013 and is a comprehensive Chinese yacht service provider. It owns multiple platforms including magazine, new media and online yacht mall. It has a proprietary yacht database and has been providing customized and accurate market study reports for yacht event organizers, sellers ad manufacturers since 2019. It has produced a number of publications including "2015 Ocean Way China Yacht Market Study" and "2017 Ocean Way China Yacht Market Study" which were the unique market reports for Chinese yacht market.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 0,24 M - -
Net income 2020 -0,96 M - -
Net Debt 2020 0,12 M - -
P/E ratio 2020 -40,2x
Yield 2020 -
Capitalization 25,4 M 25,4 M -
EV / Sales 2019 272x
EV / Sales 2020 242x
Nbr of Employees -
Free-Float 28,8%
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Income Statement Evolution
Managers and Directors
Shang-Chiai Kung Chairman, President, CEO & Chief Financial Officer
Yun-Kuang Kung Director
Liao Kun-Teng Secretary & Director
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