Trending K-pop girl group EXID has just made a major move towards conquering the Chinese music market.

On Wednesday, South Korea's Yonhap News announced that EXID's company Yedang Company revealed that the quintet will sign with Banana Project, a Chinese entertainment agency.

Banana Project is owned by Wang Sicong, the son of the Wang Jianlin. Wang Jianlin is the chairman of China's largest real estate developer.

Banana Project will manage EXID's ventures in China, but the specifics have yet to be negotiated. Yedang Entertainment clarified that EXID will focus on South Korean activities in the new year.

Producer Shinsadong Tiger, who produced EXID's hit "Up & Down," wrote in announcement on EXID's fan community that the group "has decided to make a fresh start outside of South Korea with the help of a new company."

EXID recently made their comeback with "Hot Pink."

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