ST HLDGS Forms Five-Year Goat-Milk Supply Alliance with Letim Investment, Secures RMB500.00 Million Minimum Orders

Bulletin Express20:20

Sheng Tang Holdings Limited (ST HLDGS) disclosed that it signed a Purchase Cooperation Agreement with Letim Investment Holdings (Guangdong) Group Co., Ltd. on 28 September 2026, aiming to establish a long-term supply-chain platform covering healthcare, community consumption and beauty products.

Under the agreement, Letim Investment will channel external demand from its network into ST HLDGS’s platform and commit to purchasing goat-milk products produced by wholly owned subsidiary Fuping Sheng Tang Food Technology Co., Ltd. over a continuous five-year period. The parties set an annual minimum purchase target of approximately RMB100.00 million, implying an aggregate minimum procurement value of about RMB500.00 million across the term. Orders will be placed in batches to align with goat-milk production cycles and seasonal market demand.

Both companies intend to explore additional capital cooperation initiatives subject to future performance metrics. Letim Investment, controlled by Ms. Kong Xiaohui and focused on China’s medical health and aesthetic sectors, is confirmed to be an independent third party to ST HLDGS.

Management views the partnership as a strategic step to expand distribution channels, strengthen dairy sales scale and broaden the Group’s supply-chain offerings.

The board cautions that actual purchase volumes, product mix, delivery schedules and settlement terms will depend on subsequent batch contracts and evolving market conditions, introducing uncertainty to the pace of cooperation realisation. Further updates will be provided in accordance with Hong Kong Listing Rules.

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