Guoquan (02517) announced on September 27, 2024, that the company (as the acquirer) signed a stock acquisition agreement with the independent third party Hainan Free Trade Zone Hana Bian Import and Export Trading Co., Ltd. (as transferor one) and the independent third party Beihai Beixin Enterprise Management Center (Limited Partnership) (as transferor two).
According to the announcement, the target company is mainly engaged in the production, research and development, and sales business of shrimp, beef, pork, chicken, squid, fish and other meat products, mainly focusing on shrimp as the main category, enriching the product portfolio with other meat products, and having good synergies with the group.
The group has always been committed to food safety and quality assurance, with high requirements for suppliers. After this acquisition is completed, the target company will change from a group's affiliate to a group's associate company, enhancing the group's control over the upstream supply chain in the context of the single product and single factory strategy, and strengthening the stability of the group's access to high-quality products that meet food safety standards, thereby deepening the group's upstream supply chain market layout, enhancing synergies and resource integration, and further improving the overall profitability of the group.
