RAFFLESINTERIOR (01376) rose more than 5%. As of press release, it rose 5.48% to HK$0.38, with a turnover of HK$1.07 million.
The Zhitong Finance App learned that RAFFLESINTERIOR (01376) rose by more than 5%. As of press release, it had risen 5.48% to HK$0.38, with a turnover of HK$1.07 million.
According to the news, RAFFLESINTERIOR (01376) issued an announcement regarding the acquisition of 51% of the shares of the target company, Wuhan Erchang Soda Co., Ltd., involving matters relating to the issuance of convertible stock notes under general authorization. All prerequisites under the agreement have been met and completed on January 5, 2024. After completion, the target company has become an indirect subsidiary of the company, and the target company's financial data will be comprehensively recorded in the company's financial statements.
Earlier, the company announced that the target company is mainly engaged in sales and distribution of “Second Factory Soft Drink” brand soft drink products in China. The brand has a history of over 70 years in China; the target company turned a loss into a profit in the six months ended June 30, 2023, mainly due to the resumption of logistics services suspended during the COVID-19 outbreak and the relaxation of related restrictions. The Board believes that the acquisition provides the Group with valuable business opportunities to expand its business and diversify its revenue streams.