Best Food forms partnership for new catering and food project venture

Best Food Holding Company Limited announced the formation of Shenzhen Shendianbao, a new partnership established on November 10, 2025. Qianhai Youfu, a wholly-owned subsidiary, has entered a Partnership Agreement with Beijing Shendianbao, Yancheng Baihe, and six other limited partners.

The total capital contribution for Shenzhen Shendianbao is RMB50,000,000. Qianhai Youfu will contribute RMB19,949,000 as a limited partner, holding a 39.90% interest. Beijing Shendianbao will contribute RMB100,000 as the general partner (0.20% interest), while Yancheng Baihe will contribute RMB10,951,000 as a limited partner (21.90% interest). The remaining RMB19,000,000 will be contributed by six other participating limited partners.

Shenzhen Shendianbao's business scope will primarily involve catering and food project investment, management consulting, corporate marketing, and business information consulting. Upon establishment, Shenzhen Shendianbao will become an associated company of Best Food Holding Company Limited.

The transaction is classified as a connected transaction under Chapter 14A of the Listing Rules. Given that the highest applicable percentage ratio is between 0.1% and 5% on an aggregated basis, the transaction is subject to reporting and announcement requirements but is exempt from independent shareholders’ approval.