Gaodi Holdings (01676.HK) announced that its subsidiary will acquire equipment related to bars that provide water and snacks in mainland China from multiple suppliers for a total of RMB 2,027,600.

The company stated that it needs to adopt a diversified business development strategy to maintain its competitiveness. Therefore, it has decided to establish a new food and beverage business, which will be led by CEO Li Tingfeng. The company also plans to hire professional management personnel in Zhuhai to assist Li Tingfeng in developing the new business. The company said that it will expand its food and beverage business in Zhuhai by utilizing the management's experience and business network.

The group stated that it currently packages and sells dried seafood, algae, fungi, and seafood snack food in mainland China. Since 2020, it has accumulated losses of more than RMB 270 million. Considering the uncertainty of the post-epidemic economic outlook and increased competition in mainland China, the prospect of its seafood packaging and sales business remains uncertain. However, the operating scale of the current seafood packaging and sales business will remain unchanged without reducing its size.