Jiumaojiu International Holdings Limited (SEHK:9922) entered into an equity transfer agreement to acquire additional 3.24% stake in Guangzhou Tai Er Catering Chain Co., Ltd from Cao Huiqi, He Chengxiao, Li Jiajun, Fu Tianliang and others for approximately CNY 200 million on November 1, 2023. Jiumaojiu shall fully settle the consideration in cash in one lump sum with its internal resources. Guangzhou Tai Er Catering reported net assets of CNY 191.9 million as on June 30, 2023.

The transaction is expected to complete within 30 days.