Shanghai Milkground Food Tech Co., Ltd (SHSE:600882) signed share transfer agreement to acquire 42.88% stake in Jilin Guangze Milk Industry Technology Co., Ltd. from Inner Mongolia Mengniu Dairy (group) Co., Ltd. for CNY 600 million on May 31, 2023. As on March 31, 2023, Jilin Guangze Milk Industry Technology Co., Ltd generated total assets of CNY 1.8 billion and net assets of CNY 1 billion. The transaction is approved by board of directors of Shanghai Milkground Food Tech Co., Ltd and is subject to shareholder approval.

Shanghai Milkground Food Tech Co., Ltd (SHSE:600882) completed the acquisition of a 42.88% stake in Jilin Guangze Milk Industry Technology Co., Ltd. from Inner Mongolia Mengniu Dairy (group) Co., Ltd on July 28, 2023.