Chacha Food vice chair boosts stake, triggers review

Chacha Food Co., Ltd. (SZSE:002557) Vice Chairwoman and Deputy General Manager, Chen Qi, increased her stake in the company, prompting a legal review by the Shanghai Tongli Law Firm. Between July 12, 2024, and January 11, 2025, Chen acquired 1,437,300 shares via open market transactions, totaling approximately 0.28% of the company's outstanding shares. The purchase, valued at 37,428,147 yuan ($5.15 million USD), falls within her pre-announced plan to invest between 30 and 50 million yuan. Post-acquisition, Chen directly holds 0.28% and, together with concerted actor Huatai Group, controls 42.75% of Chacha Food. The law firm confirmed the legality of the share purchase and concluded it exempts Chen from mandatory tender offer requirements.