Organic Ticosmetic "Major Shareholder Voluntarily Extends Share Lock-up by 1 Year"

[Asia Economy Reporter Hyunseok Yoo] JINZHENG Investment (hereinafter JINZHENG Investment), the major shareholder of Organic T Cosmetic, announced on the 14th that it has voluntarily decided to extend the lock-up period of the Organic T Cosmetic shares it currently holds by one more year, in addition to the original one-year lock-up period.

JINZHENG Investment stated, "The additional extension of this lock-up period is an effort by all major shareholders, including Organic T Cosmetic, to work together to restore the undervalued stock price to a reasonable level amid the situation where Chinese companies are undervalued in the Korean market."

JINZHENG Investment, a specialized equity investment company based in Singapore, focuses its investments on the Chinese and Southeast Asian Greater China regions. It invests in listed and unlisted companies in new growth sectors such as consumer goods like Organic T Cosmetic, entertainment, pharmaceuticals, health industries, and IT internet.

Recently, it also invested in a company called Geumseong Nori-dongsan, which is a company that constructs, develops, manages, and operates children's amusement parks, large theme parks, water parks, rides, and play facilities. It owns six amusement parks in China and is preparing for a listing on the US NASDAQ market in 2022. As of 2020, its annual sales amounted to 255 million yuan (approximately 46.3 billion KRW).

A JINZHENG Investment official said, "We expect to increase profit effects through plans such as placing Organic T Cosmetic's children's products around Geumseong Nori-dongsan's amusement parks and sharing annual membership mileage," adding, "We plan to maximize synergy effects through linkage strategies among the invested companies."

Organic T Cosmetic stated that it will achieve rapid management stabilization following the two changes in major shareholders over the past two years to ensure the company's long-term and stable development.