Fung Capital Invested US$5.5 Million in Moonbasa

On Feb 23, 2011, Fung Capital Asia invested in Tectron Limited, a Chinese B2C on-line ladies’ fashion retailer under the namesake brand of "Moonbasa". The capital will be used to fund expansion of the business, particularly in the Chinese mainland market and expansion of product categories.

"The e-commerce market in China is large, sustainable and growing rapidly. Moonbasa is well-positioned in the trendy mass-market ladies’ fashion segment with excellent execution capability. Although the brand was developed only about 5 years ago, it has already demonstrated its ability to rapidly attract and retain customers. Today, Moonbasa is ranked amongst the top leading e-commerce retailers in China. The management of Company is also continually improving its internal capabilities as well as product design, quality, and sales services. We are delighted to be a partner of Moonbasa." says Mr. Jose Cheng, Managing Director of Fung Capital Asia,

Mr. Cheng added that “Fung Capital is already working with Moonbasa on a number of strategic operational partnerships between Moonbasa and Fung Capital’s sister company Li & Fung Limited in terms of supply chain management and product design and sourcing. We hope to be able to create additional value as a shareholder in the long run."

About Moonbasa

Moonbasa is a leading female fashion and accessory branded e-Commerce retailer in China. Founded in 2006, Moonbasa has been growing rapidly over the years as a result of growing demand for its casual mid-priced fashion catering to early twenties to mid thirties women in China.

About the Fung Capital Group

Fung Capital Group is the private investment arm of the families of Dr. Victor Fung and Dr. William Fung, the controlling shareholders of the Li & Fung Group of companies which included HK-listed companies Li & Fung Limited (HK:494), Trinity Limited (HK:891) and Convenience Retail Asia Limited (HK:8052). Fung Capital makes investments in supply-chain related technologies as well as in consumer product companies primarily in the apparel, fashion accessories, home furnishings, gifts, health and beauty industries, where its investments are unrelated to any of the listed companies of the Li & Fung Group.

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