Caissa Tosun Development Co.,Ltd. (000796.SZ) announced that its wholly-owned subsidiary Beijing Xinhua Airport Aviation Food Co., Ltd. (referred to as "Xinhua Aviation Food") plans to acquire 100% equity of Qingdao Hansa Tianchin Food Co., Ltd. (referred to as "Qingdao Hansa") from (Hong Kong) International Food Service Co., Ltd. for 16 million yuan using its own funds.
According to the announcement, Qingdao Hansa's main business covers standardized production and distribution services for aviation meals and frozen/refrigerated foods. Its factory is located in Laixi City, Qingdao. The Laixi factory covers a total area of 33,333 square meters, with 12,381 square meters of production space and 8 production lines. The factory has an annual maximum capacity of approximately 25 million servings, with daily average production of about 100,000 servings and storage space for 400,000 meals.
Due to external environmental changes leading to reduced orders from major foreign airline customers and declining orders from important chain restaurant brand clients, Qingdao Hansa has been experiencing continuous losses and ceased production on September 30, 2024.
The announcement stated that this acquisition of Qingdao Hansa represents a key strategic initiative for the company to continue deepening its presence in the professional aviation catering sector, advance supply chain upgrades, and expand into the mass catering market. Located in the core East China region, Qingdao Hansa will complement the company's aviation catering operations in North China, Northwest China, and Hainan, rapidly supplementing the company's aviation catering capacity and promoting the construction of a nationwide service network to achieve business synergy and economies of scale.
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