Qingdao Foods announced that Huatong Group, the controlling shareholder and actual controller of the company, signed a share transfer agreement with Tsing Beer Group to transfer its 5,7017,609 tradable shares with unlimited sales conditions to Tsing Beer Group through a private agreement. The total transfer price is 965 million yuan, equivalent to 16.92 yuan/share. After the transaction was completed, Tsing Beer Group held 29.24% of the shares and became the controlling shareholder, and the actual controller of the company was changed from Huatong Group to the Qingdao Municipal State-owned Assets Administration Commission. The transaction still requires final approval from the Qingdao Municipal State-owned Assets Administration Commission, confirmation by the Shenzhen Stock Exchange, and share transfer registration procedures.

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