Tongwei Group has agreed to invest RMB1.44bn (about US$211m) in Tech-Bank Food through the pig farmer's court-supervised restructuring, a deal that would make it the Shenzhen-listed company's controlling shareholder, Tech-Bank Food said on 9 November 2026.
Why Tongwei Group Co., Ltd. is buying Tech-Bank Food Co., Ltd. (restructuring investment for control)
Tech-Bank Food said Tongwei intends to provide business synergies and funding, including support on feed procurement and cost reduction, and aims to build it into a high-end hog farming business. Tongwei Group combines a feed business with its photovoltaic operations, held mainly through listed Tongwei Co.
Deal terms and financing
Tech-Bank Food will capitalise reserves to create 3,066,268,688 new shares, of which Tongwei will conditionally take 1,470,120,300 at RMB0.98 each. Remaining new shares will be used to settle creditor claims. Tongwei must pay a deposit equal to 20% of the investment within five working days, will select financial investors and backstop their commitments, and has undertaken that at least 50% of its investment will come from its own funds.
Regulatory approvals and timing
Tech-Bank Food remains in pre-restructuring under the Ningbo Intermediate People's Court, which extended the period to 9 May 2027. The investment requires the court to accept the restructuring application and approve a plan; if the court accepts the case, the shares will be placed under a delisting-risk warning. A merger-control filing will be made if required.
Market context
Tech-Bank Food announced the termination of its agreement with its previous industrial investor and relaunched its search for restructuring investors in September 2026; its pre-restructuring began in August 2024.
