Guoquan Food (Shanghai) Co., Ltd. ("GUOQUAN") announced on September 27, 2024 that it has signed a equity acquisition agreement with the independent third party Hainan Free Trade Zone Hanabi Import and Export Trading Co., Ltd. and Beihai Beixin Enterprise Management Center, to acquire 41% of the equity of Beihai Daixiaji Food Co., Ltd., involving a total capital of 246 million RMB. This acquisition will be paid for using internal resources of the company and proceeds from global sales. After the acquisition, GUOQUAN will hold 51% of the target company's equity, and the target company will change from a joint-stock company to a joint venture company. The target company's main products include shrimp balls and other slippery products. This acquisition will enhance GUOQUAN's capability in the supply chain control. The completion of this acquisition is subject to the fulfillment of multiple conditions, and the specific completion time is uncertain.

Guoquan Food (Shanghai) Co., Ltd. ("GUOQUAN") announced on September 27, 2024 that it has signed a equity acquisition agreement with the independent third party Hainan Free Trade Zone Hanabi Import and Export Trading Co., Ltd. and Beihai Beixin Enterprise Management Center, to acquire 41% of the equity of Beihai Daixiaji Food Co., Ltd., involving a total capital of 246 million RMB. This acquisition will be paid for using internal resources of the company and proceeds from global sales. After the acquisition, GUOQUAN will hold 51% of the target company's equity, and the target company will change from a joint-stock company to a joint venture company. The target company's main products include shrimp balls and other slippery products. This acquisition will enhance GUOQUAN's capability in the supply chain control. The completion of this acquisition is subject to the fulfillment of multiple conditions, and the specific completion time is uncertain.