Xin Lang Cai Jing·2025-10-27 01:56Core Viewpoint - Qingdao Beer has terminated its plan to acquire 100% equity of Jimo Yellow Wine for 665 million yuan due to unmet conditions in the share transfer agreement, without incurring any liability for breach of contract [1][2] Group 1: Acquisition Details - The acquisition plan was first disclosed on May 7, with Qingdao Beer intending to acquire 45.45% and 54.55% of Jimo Yellow Wine from Xinhua Jin Group and Shandong Lujin Group respectively, for a total price of 665 million yuan plus adjustments for profit and loss during the price adjustment period [1] - Jimo Yellow Wine, established in 1949, is a significant representative of traditional Chinese yellow wine, with projected main business revenue of 166 million yuan in 2024, reflecting a year-on-year growth of 13.5%, and a net profit of 30.47 million yuan, up 38% [1] Group 2: Strategic Intent - The acquisition was aimed at expanding Qingdao Beer's non-beer business and promoting diversification, leveraging synergies in brand promotion, sales networks, and seasonal sales complementarity between the two companies [2] - The share transfer agreement stipulated that the completion of the transfer and payment of the transfer price depended on the fulfillment of certain conditions, which were not met within the specified timeframe [2] Group 3: Financial Performance - In the first half of the year, Qingdao Beer reported a revenue of 20.491 billion yuan, a year-on-year increase of 2.11%, and a net profit of 3.904 billion yuan, up 7.21% [2] - Jimo Yellow Wine faced judicial freezes on its equity amounting to approximately 127 million yuan from September to October, with the longest freeze lasting until October 2028, affecting its major shareholders [2]