Core Viewpoint - The company has engaged in a product exchange agreement to enhance its competitive position in a slow-recovering consumer market, aiming to meet diverse consumer demands and resolve existing inventory issues [2]. Group 1 - On December 5, 2024, Guangzhou Kangrui signed a memorandum with a customer from Foshan and a Guangzhou trader to exchange 35 tons of new tea for at least 70-87.5 tons of old tea, leveraging their inventory advantages [1]. - On January 4, 2025, the Foshan customer took possession of the 35 tons of new tea, resulting in a corresponding inventory loss for Guangzhou Kangrui [1]. - The board approved the cooperation model outlined in the memorandum, allowing business departments to proceed with the collaboration [2]. Group 2 - On May 24, 2025, Guangzhou Kangrui signed a product exchange contract with the Guangzhou trader, agreeing to exchange a total of 35 tons of new tea for 160 tons of old tea, which has been completed as of the announcement date [2]. - The company appointed Yunnan Tea Evaluation and Testing Traceability Center to conduct sampling tests on the 160 tons of old tea, confirming compliance with relevant standards and providing a market evaluation reference price [2]. - The board believes that the product exchange contract will enhance the company's competitiveness in the current market and benefit the overall interests of the company and its shareholders [2].
澜沧古茶(06911.HK)：广州康瑞与广州贸易商签署《产品置换合同》