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猫屎咖啡控股(01869.HK)斥579万元收购东台市一幅土地

KAFELAKU COFFEE (01869.HK) spends 5.79 million yuan to acquire a plot of land in Dongtai City.

Gelonghui Finance ·  Dec 17, 2024 19:32

On December 17, Gelonghui reported that KAFELAKU COFFEE (01869.HK) announced that its wholly-owned subsidiary Jiangsu Mongoose entered into a transfer contract for state-owned land use rights with the Dongtai Planning Bureau on August 5, 2024, at a price of RMB 5.79 million.

The land is located in the coastal economic zone of Dongtai City, Jiangsu Province, China, on the east side of Yingbin Avenue and south side of Haiwang Road (Plot No. 2024 (Industrial) 11 with a total area of approximately 26,319 square meters).

The group is reshaping its branding process and developing the KAFELAKU COFFEE business, such as opening coffee shops in China and engaging in coffee trading, to diversify the group's food and beverage business. Given the group’s development of the KAFELAKU COFFEE business, the Directors have been seeking opportunities to establish a domestic KAFELAKU COFFEE production base to process coffee beans, thereby supplying coffee beans for its coffee shops and coffee trading business.

The Directors believe that vertically integrating the coffee bean production business will enable the group to better control product quality and ensure a stable supply of coffee beans, which is a key element for the robust development of the group’s KAFELAKU COFFEE business. The land is adjacent to the group's headquarters in China. The Directors believe that strategically, establishing the KAFELAKU COFFEE production base on this land will allow the group to promote rapid communication between the production base and the headquarters in China, thus enabling quick decision-making (especially decisions related to the production base operations), thereby improving operational efficiency.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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