Tsingtao Brewery to acquire Jimo Yellow Wine Factory

Tsingtao Brewery Co., Ltd. (SSE:600600) has announced the acquisition of 100% equity in Shandong Jimo Yellow Wine Factory Co., Ltd. ("Jimo Yellow Wine") for CNY 665 million plus price adjustments. The move aims to enhance industry synergy and corporate competitiveness. Jimo Yellow Wine, established in 1949, is a notable producer of traditional Chinese yellow wine. In 2024, Jimo Yellow Wine reported operating revenue of CNY 16.641 million, a 13.5% year-on-year increase, and a net profit of CNY 3.047 million, up 38.0% from the previous year. The acquisition is expected to broaden Tsingtao Brewery's product range and market channels, fostering diversified growth and strengthening its position in the beverage industry. The transaction has been approved by Tsingtao Brewery's board and is subject to customary closing conditions.