Wens Foodstuff Group acquires Fujian Hake for CNY 118.7m

Wens Foodstuff Group (SZSE:300498) announced that its holding subsidiary, Guangdong Wens Swine Technology Co., Ltd., will acquire 100% equity of Fujian Hake Ecological Agriculture Co., Ltd. for CNY 118.7 million. The acquisition will be funded by Wens Foodstuff Group's own capital. The transaction agreement was recently signed between Guangdong Wens Swine Technology and existing shareholders of Fujian Hake. According to the announcement, Fujian Hake's net assets were valued at CNY 106.3519 million in a preliminary unaudited assessment for the period of January to March 2025. The acquisition aims to optimize resource allocation, strengthen regional presence, and enhance the company's swine supply capabilities, driving further development of its swine business. The company also stated that the acquisition should have no effect on the operational independence of Wens Foodstuff Group and is expected to have a positive long-term impact on the company's finances.