China Shenghai Group Expands into F&B Sector

China Shenghai Group Limited (HK:1676) has released an update.

China Shenghai Group Limited, through its fully-owned subsidiary Golden Shenghai Holdings Limited, has entered into multiple agreements for acquiring equipment for a new bar and refreshment business in the PRC with a total investment of RMB10,175,960. These acquisitions constitute a discloseable transaction as per the Listing Rules since the aggregated transactions exceed a 5% relevance ratio but are under 25%, necessitating reporting and announcement obligations. The equipment includes stage and sound insulation equipment from various suppliers with specific payment terms outlined for each.

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