Jiangxi Huangshanghuang Group Food Co., Ltd. agreed to acquire additional 27% stake in Jiaxing Zhenzhen Laolao Food Co., Ltd. for CNY 110 million.

Jiangxi Huangshanghuang Group Food Co Ltd is a China-based company mainly engaged in food processing business. The Company's main business is the development, production and sales of other products such as sauce-braised meat products, rice products and accompany cold dishes. The Company's products include instant consumer sauce-braised meat products such as duck, chicken, pig, and beef; rice products such as rice dumplings, green dumplings, mochi, eight-treasure rice, and instant porridge; and accompany cold dishes such as aquatic products, vegetables, bean products. The Company's products are sold in the domestic market.