Sou Hu Cai Jing·2025-10-27 05:52Core Viewpoint - Qingdao Beer Co., Ltd. has officially terminated its acquisition of 100% equity in Shandong Jimo Huangjiu Factory due to unmet conditions in the share transfer agreement, with the deal valued at 665 million yuan now shelved [1][3]. Group 1: Acquisition Details - The acquisition plan was first disclosed on May 8, with the aim of expanding non-beer business and promoting the integration of "beer + Huangjiu" [3]. - The transaction required the fulfillment of delivery conditions within 120 days, but as of October 26, these conditions were not met, primarily due to share freezes [3]. - Key factors leading to the termination included over 100 million yuan in frozen shares since September 2025, involving shareholders Xinhua Jin Group and Shandong Lujin Group [3]. Group 2: Financial Issues - The latest share freeze occurred on October 10, with 15.75 million yuan frozen until 2028, linked to financial loan contracts and asset preservation disputes [3]. - Xinhua Jin Group was found to have non-operationally occupied 406 million yuan of listed company funds, with a directive to return the amount within six months issued by the Qingdao Securities Regulatory Bureau on August 25 [3]. - As of October 17, the funds had not been repaid, posing potential risks for the listed company’s stock if unresolved [3]. Group 3: Company Performance - Jimo Huangjiu, established in 1949, reported a main business income of 166 million yuan in 2024, a year-on-year increase of 13.5%, and a net profit of 30.47 million yuan, up 38% [4]. - As of the end of 2024, Jimo Huangjiu's total assets were 908 million yuan, with net assets of 203 million yuan [4]. - Qingdao Beer achieved sales of 4.732 million kiloliters in the first half of the year, with growth in its main brand and premium products [6].