Neo-Concept International Group Holdings Ltd

NCI, incorporated in July 2021 under the laws of the Cayman Islands, is a holding company for its Operating Subsidiaries, Neo-Concept HK and Neo-Concept UK. Through these subsidiaries, NCI provides one-stop apparel solution services, covering the entire apparel supply chain. These services include market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management. NCI primarily serves the European and North American markets. Prior to a 2021 restructuring, NCI's Operating Subsidiaries were part of NCH, a group of vertically integrated companies offering garment supply chain services such as garment trading and manufacturing, retail, and apparel solution services. NCH operates across Hong Kong, China, East Asia, the UK, Europe, and North America, and remains under the common control of NCI's Controlling Shareholder. To manage potential conflicts of interest due to this common control, NCI, Splendid Vibe Limited, Ample Excellence Limited, and Neo-Concept (BVI) Limited (the holding companies of NCH) have an Exclusive Territory and Non-Competition Agreement. This agreement defines their exclusive geographic operating areas and addresses NCH's existing customers. As part of a reorganization before its listing, on October 29, 2021, NCI acquired all shares of NCA from the Controlling Shareholder and Ms. Man Chi Wai, becoming the holding company of NCA, Neo-Concept HK, Neo-Concept (NY) Corporation, and Neo-Concept UK. Neo-Concept (NY) Corporation, a wholly owned subsidiary of Neo-Concept HK, had no significant operations during the two years ended December 31, 2020, and 2021. On November 12, 2021, Neo-Concept HK disposed of all shares of Neo-Concept (NY) Corporation to Neo-Concept (BVI) Limited, an affiliated company controlled by the Controlling Shareholder.