Zhitong Finance App News,Guangzhou Restaurant (603043.SH)An announcement was issued. Guangzhou Taotaoju Food Co., Ltd., a wholly-owned subsidiary of the company, and Guangzhou Shishang Yayuan Catering Management Co., Ltd. signed an “Share Transfer Agreement”. Taotaoju Company used 180.2 million yuan in cash to acquire 100% of the shares of Guangzhou Haiyue Taoju Catering Management Co., Ltd. (hereinafter referred to as “Haiyue Company”) held by Guangzhou Shishang Yayuan Catering Management Co., Ltd. (hereinafter referred to as “Haiyue Company”).

According to reports, Haiyue Company was established by Guangzhou Shishang Guowei Catering Management Co., Ltd. in May 2020. In July 2020, Shishang Guowei Company transferred 100% of its shares in Haiyue Company to Shishang Yayuan Company, an affiliated company under the same control.

In the same month, Shishang Guowei Company and its affiliates purchased 6 authorized “Taotaoju” brand catering stores that it has operated for many years into Haiyue Company and set up 6 branches. The total area of the six restaurants is about 5,000 square meters. Haiyue Company has carried out catering operations under the “Tao Tao Ju” brand through licensing. Currently, all subsidiaries of Haiyue Company are operating normally.

The company said that through this transaction, it obtained authorized restaurants under the “Taotaoju” brand belonging to Haiyue Company and introduced an excellent catering management team, which will help the company further improve its overall catering business management capabilities, etc.