Aumake Limited (ASX: AUK) has secured a non-dilutive funding package of $2 million from a key strategic stakeholder to the company by way of a loan to a majority owned subsidiary Newera Australia.
The Key stakeholder has acquired a 49% stake in Newera with the company retaining 51%. The Purpose of the funding is to enhance Aumake’s supply chain capabilities.
this additional funding, Aumake will be able to significantly enhance its procurement, OEM brand development, and production capabilities and look to further increase revenue generating initiatives which have already been increasing at 49.60% Quarter-on-Quarter (QoQ) (Q2 FY24: $9,615,000 vs Q1 FY24: $6,427,000).
Newera and its financial underpinning is expected to play a crucial role in advancing Aumake's strategic ambitions, driving innovation, and fostering long-term growth.
"We are thrilled with the formation of Newera Australia Pty Ltd as a joint venture, which marks a significant milestone for Aumake. The financial backing through the shareholder facilitated funding package is a testament to the strength of our partnership and our shared vision. This venture will not only propel Aumake towards its strategic goals but also ensure our sustained growth and continuous innovation,” Aumake’s Managing Director, Joshua Zhou, said.
The Innovation of Tourism and Wine
The company has also entered into a full agreement to establish a joint venture company with the Hunter Valley region's respected Petersons Wines (Joint Venture). Presently, the Joint Venture is in the process of registration. This Joint Venture will mark a significant leap forward in the xompany's commitment to bringing Australian products with the Asian market, through its innovative brand acceleration business model. The foundation of the Joint Venture will integrate tourism, wine and retail into a cohesive experience, setting a new standard in the industry.
This Joint Venture marks Aumake's strategic entry into the Australian wine industry, leveraging its established strengths and expertise to create a direct and effective connection to the Asian market. This collaboration between Aumake and Petersons Wines is expected to play a pivotal role in advancing our strategic ambitions of driving innovation and fostering long- term growth.
Aumake is a company with strong brand acceleration and sales capabilities, positioning it as a pioneer in delivering high-quality brands and products from Australia and New Zealand to the Asia market.
