Bestore Co.,Ltd. (603719) has seen new developments in the lawsuit arising from its controlling shareholder's "double marriage" situation. According to the company's announcement on the evening of August 13, Guangzhou Light Industry and Trade Group Co., Ltd. (hereinafter referred to as "Guangzhou Light Industry") has slightly increased its litigation claim (from the original 996 million yuan to 1.023 billion yuan), and the control rights of Bestore previously obtained by Changjiang International Trade may still be subject to change in the future.
According to Bestore's announcement on the evening of August 13, in July 2025, the Guangzhou Intermediate People's Court accepted the case of plaintiff Guangzhou Light Industry versus defendant - the company's controlling shareholder Ningbo Hanyi Venture Capital Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Hanyi" or "defendant") and third party Bestore regarding share transfer disputes. Recently, the company learned from materials delivered by the Guangzhou Intermediate People's Court that Guangzhou Light Industry submitted an application to the court to modify its litigation claims. The modified litigation claims are as follows:
1. Order the defendant to continue performing the "Agreement" and "Conditional Share Transfer Agreement" signed by the plaintiff in May 2025, transferring 79,763,962 shares of Bestore held at a price of 12.42 yuan per share (total transaction amount: 79,763,962 × 12.42 yuan = 991 million yuan) to the plaintiff, and immediately complete the share transfer procedures;
2. Order the defendant to pay the plaintiff default penalties for delayed share transfer procedures, calculated from May 29, 2025, at a rate of 0.05% per day based on the total transaction amount listed in claim 1 (i.e., 991 million yuan), provisionally calculated to July 31, 2025, amounting to 31,701,389.06 yuan, and continuing until the share transfer procedures are completed;
3. Order the defendant to bear the plaintiff's losses of 875,228.31 yuan for litigation preservation and legal fees of 50,000 yuan incurred for this case;
4. Order the defendant to bear the case acceptance fees, preservation fees, and other litigation costs. The total amount of claims 1-3 above, provisionally calculated to July 31, 2025, is 1.023 billion yuan.
Regarding the impact of this lawsuit on the company, Bestore stated that this litigation involves an equity dispute between Guangzhou Light Industry and the company's controlling shareholder Ningbo Hanyi, with the company as a third party, and has no significant impact on the company's production, operations, or current profit and loss.
In terms of risk warnings, Bestore noted that Guangzhou Light Industry has applied to freeze Ningbo Hanyi's 79,763,962 shares in Bestore. Currently, the case has not yet been heard in court, and the final outcome of this litigation cannot be determined, which may create uncertainty risks regarding the control transfer between Ningbo Hanyi and Changjiang International Trade. As of the disclosure date of this announcement, the Guangzhou Intermediate People's Court has not yet determined the court hearing date. In addition to normal litigation response, Ningbo Hanyi is actively taking action to seek settlement with Guangzhou Light Industry, striving to resolve the dispute as soon as possible. The company will continue to monitor the progress of this litigation and its impact on the company, and will conduct timely information disclosure in accordance with laws and regulations. Investors are advised to pay attention to investment risks.
Public information shows that Bestore was founded in 2006 and listed on the Shanghai Stock Exchange in February 2020, becoming the "first premium snack stock." The company's main business includes research and development, procurement, sales, logistics distribution, and operations of leisure foods, with main products including nuts and roasted goods, dried fruits, meat snacks, vegetarian delicacies, and candies and pastries.
In terms of latest performance, on the evening of July 14, Bestore released its 2025 interim performance forecast, expecting a net loss attributable to shareholders of 75 million to 105 million yuan in the first half of 2025. Bestore stated that the expected loss in this period was mainly due to the company's continued optimization and adjustment of product and store structures, rising traffic costs for online channels, and declining interest income, investment returns, and government subsidies.
In the secondary market, Bestore closed at 13.44 yuan per share on August 13, down 0.15%, with a latest market value of approximately 53.89 billion yuan. This market value represents an 84% decline from the peak of over 34 billion yuan achieved during the company's listing year!
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