Chacha Food forms new associate company with affiliate Hefei Huatai Group

Chacha Food's wholly-owned subsidiary, Shanghai Chuangweilai Investment Co., Ltd. (Chuangweilai), has partnered with Chacha Food's controlling shareholder, Hefei Huatai Group Co., Ltd. (Hefei Huatai Group), to establish a new associate company. This joint venture, Hefei Kunlin Kai Enterprise Management Co., Ltd., marks a progression in the related party transaction initially approved by Chacha Food's board on October 23, 2025.

Chuangweilai invested 160 million yuan, holding a 40% stake, while Hefei Huatai Group contributed 240 million yuan, securing 60% ownership. The joint venture has completed its registration and obtained a business license on November 3, 2025.

The new company, with a registered capital of 400 million yuan, will focus on investment activities and enterprise management consulting. Its establishment followed the board's resolution where related directors abstained from voting.