Fuling Zhacai advances acquisition of Taste Beauty stake

Chongqing Fuling Zhacai Group Co., Ltd. (Fuling Zhacai) is moving forward with its plan to acquire a 51% stake in Sichuan Weibao Taste Beauty Food Technology Co., Ltd. (Taste Beauty) through a combination of share issuance and cash payment. The acquisition involves five natural person shareholders of Taste Beauty: Chen Wei, Qi Guibin, Fan Pengjie, Du Hongkun, and Ni Haifeng.

The company has been actively disclosing updates, with the latest progress announcement being the fifth such release since the initial disclosure in April 2025. Previous updates were made on May 26, June 25, July 25, and August 25, 2025. Currently, audit, valuation, and due diligence efforts for the transaction are underway.

Fuling Zhacai will hold further board and shareholder meetings to approve the transaction upon completion of these preparatory works. The company emphasizes that the transaction does not constitute a connected transaction and is not expected to trigger a change in company control or a backdoor listing. The final valuation of the assets and the exact consideration have not yet been determined.