Wens Foodstuff completes acquisition of Yuncheng Herui Environmental Tech

Wens Foodstuff Group (SZSE:300498) announced the completion of the industrial and commercial registration change for its acquisition of a 91.38% stake in Yuncheng Herui Environmental Technology Group. Following the completion, Wens Foodstuff now holds 100% equity in Yuncheng Herui. The acquisition, approved in December 2024, saw Wens Foodstuff acquire the stake for a price of CNY 160,974.52. The acquired entity, now renamed Guangdong Yuncheng Herui Environmental Technology Group Co., Ltd., is now a wholly-owned subsidiary of Wens Foodstuff and will be included in the company's consolidated financial statements. Additionally, Wens is diverting CNY 90 million of previously raised capital from bond offerings to develop smart manufacturing and big data upgrades for the company's products. This capital was initially raised through CNY 9.297 billion in convertible bonds. Of the nearly CNY 10 billion raised from bond offerings, CNY 300 million has been set aside for temporary working capital, nearly CNY 370 million has been used on projects, and close to CNY 300 million has been set aside for permanent working capital.