Following the announcement of 30 May 2019, CAQ Holdings Limited announced the opening of the first experience outlet in China and the launch of the online shop. The retail project is a joint venture, based in Hainan Island, was established by CAQ with the Mission Hill Group. After successful business registration earlier this year, the joint venture was named Hainan Kingmall International Trading Co. Ltd. and Kingmall has also been used as the name of experience outlets and the online shop. Under the terms of the joint venture CAQ Finance (HK) Limited, a wholly owned subsidiary of CAQ, and Hainan Xunhao Business Management Company Limited, a wholly owned subsidiary of Mission Hills, established Kingmall on a 50/50 equity basis. Kingmall is utilising the strengths of both joint venture partners in developing online and offline e-commerce retail business in Hainan Island, China.