Hui Ching Lau made an offer to acquire an additional 53.8% stake in Qinqin Foodstuffs Group (Cayman) Company Limited (SEHK:1583) from public shareholders for approximately HKD 910 million on April 8, 2021. Hui Ching Lau will acquire the additional shares for HKD 2.23 per share in cash and options for HKD 0.0001 per option. Hui Ching Lau intends to finance the offers by the loan by King Terrace as lender by issuing HKD 940 million. All outstanding loan amount will be fully repaid on December 31, 2022. The share offer is only conditional upon valid acceptances having been received more than 50% stake in Qinqin Foodstuffs Group (Cayman) Company. The directors make no recommendation as to the fairness or reasonableness of the Offers or as to the acceptance of the Offers in this joint announcement. Shareholders and option holders should read the composite document carefully, including the recommendations of the Independent Board Committee in respect of the Offers and a letter of advice from the independent financial adviser, before forming a view on the Offers. The Offeror and the Qinqin Foodstuffs Group (Cayman) Company confirm that no regulatory approvals, authorizations, or consents are required for the Offers. The Offers may lapse if they do not become unconditional on the Closing Date. The Shareholders and potential investors of the Qinqin Foodstuffs Group (Cayman) Company are advised to exercise extreme caution when dealing in the securities. An independent Board Committee has been established comprising of Wu Sichuan, Wu Yinhang, Cai Meng, Chan Yiu Fai, Ng Swee Leng and Paul Marin Theil. The committee recommended its shareholders to accept the offer. On May 21, 2021, Qinqin Foodstuffs Group (Cayman) Company Limited issued circular to its shareholders. As of May 27, 2021, Conditions had been fulfilled and the Share Offer was declared unconditional. The offer period will close on June 11, 2021. Deloitte & Touche Corporate Finance Limited acted as a financial advisor to Hui Ching Lau. Opus Capital Limited acted as financial advisor to the Independent Board Committee in respect of the Offers and in particular as to whether the Offers are fair and reasonable and as to the acceptance of the Offers. Tricor Investor Services Limited acted as registrar to Qinqin Foodstuffs Group (Cayman) Company Limited. Hui Ching Lau completed the acquisition of additional 16.9% stake in Qinqin Foodstuffs Group (Cayman) Company Limited (SEHK:1583) from public shareholders for approximately HKD 280 million on June 11, 2021. Under the transaction, Offeror received valid acceptances in respect of a total of 127.24363 million offer shares under offer representing 16.85% of issues shares. Following acquisition, offeror holds aggregate of 476.038813 million and 0.46 million options, representing approximately 63.04% of the issued Shares.