Tsingtao Brewery Group has agreed to buy 29.24% of Qingdao Food from Qingdao Huatong Group for RMB965m, making it the biscuit and snack maker's controlling shareholder, Qingdao Food said on 10 November 2026.
Why Tsingtao Brewery Group Co., Ltd. is buying Qingdao Food Co., Ltd. (29.24% stake)
Both the buyer and seller are wholly owned by the Qingdao state assets regulator, which will remain Qingdao Food's ultimate controller. The transfer brings the listed food company under the city's brewing group.
Deal terms and financing
Huatong will transfer 57,017,609 unrestricted shares at about RMB16.92 each, for RMB965m in total; the final price is subject to the Qingdao SASAC's approval. Tsingtao Brewery Group has undertaken lock-up commitments on the shares it acquires.
Regulatory approvals and timing
The deal needs final approval from the Qingdao SASAC, a compliance review by the Shenzhen Stock Exchange and registration of the share transfer.
Market context
Qingdao Food first disclosed the planned change of control in late October, when its shares rose by their daily limit on two consecutive days.
