Core Viewpoint - After a suspension of over 20 days, Yiyuan Wine Industry (08146.HK) resumed trading, experiencing a stock price surge of 160% following the investment from Yang Lingjiang, the founder of 1919. However, the stock price later retreated, maintaining an approximate increase of 50% at the time of reporting [2]. Group 1: Acquisition Details - Yiyuan Wine Industry announced a takeover bid, with Hill Valley Investment Co Ltd, controlled by Yang Lingjiang, agreeing to acquire a total of 589.48 million shares, representing about 73.63% of the company's issued share capital, for a total consideration of HKD 73.6298 million, equating to approximately HKD 0.12491 per share [2]. - The agreement includes the acquisition of 411.35 million shares (approximately 51.38%) from the first seller for about HKD 51.3802 million, 173.18 million shares (approximately 21.63%) from the second seller for about HKD 21.6313 million, and 4.95 million shares (approximately 0.62%) from the third seller for about HKD 0.06183 million [2]. Group 2: Payment and Offer Conditions - The acquirer has paid 30% of the total consideration as the first installment, with the remaining balance due within nine months after the completion date, which is set for December 12, 2025, with a possible extension of up to three months [3]. - Following the completion of the transaction, the acquirer and its concert parties will collectively hold 589.48 million shares, accounting for 73.63% of the total issued share capital [3]. Group 3: Offer Price and Market Strategy - The mandatory unconditional cash offer price is set at HKD 0.12491 per share, representing a discount of approximately 52.86% compared to the closing price of HKD 0.2650 on December 9, 2025 [3]. - Yang Lingjiang aims to maintain the company's listing status on the stock exchange and intends to leverage 1919 and strategic partner Tianmu International Wine Industry to create an open ecological platform for the wine industry, focusing on efficient connections between upstream brands, channels, and consumers [3].
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