China-based jewelry design company FUQI International agreed to buy the Temix jewelry chain for $18.5 million, FUQI announced. Temix comprises two jewelry companies, Shanghai Tian Mei Jewelry and Beijing Yinzhong Tian Mei Jewelry, which were founded and are currently privately owned by Chujian Huang. Under the agreement, FUQI will pay $9.5 million in cash to Huang, while the remainder will be paid in its own NASDAQ-listed stock, dependant on certain revenue and profit targets at Temix during the next three years. Huang will continue to manage the Temix chain as a FUQI employee.

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