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HONG KONG, Mar 6, 2021 - (ACN Newswire) - Tianyun International Holdings Limited ("Tianyun International", together with its subsidiaries, the "Group") (Stock code: 6836.HK), a leading seller and manufacturer of processed fruits products in China is pleased to announce that Rainbow Lead Ventures Limited has become a new substantial shareholder of the Group. Sichuan Development International Holding Company Limited ("Sichuan Development International") adjusted its overall investment strategy and agreed to sell all the ordinary shares of Tianyun International to Rainbow Lead Ventures Limited, involving 263,914,740 shares and 27.0% of total issued share capital. The total consideration is approximately HK$417.0 million, which is equivalent to a premium of approximately 2.6% to the closing price on 4 March 2021.
The Group believes that the new strategic shareholder will create new opportunities for the Group's future development and lead the Group to a new phase of its swift development cycle. Mr. Yang Ziyuan, Chairman and CEO of the Group and the key senior management team will remain in the Group and continue to perform their important roles. The Group would like to express its gratitude to Sichuan Development International for their continuous cooperation in exploring the establishment of a fruit and vegetable processing base in Sichuan Province in the past two years. However, under the impact of the pandemic, the Group and Sichuan Development International decided to look for a more suitable strategic shareholder for the Group via mutual efforts after considering each other's long-term plans and strategies.
In the future, the Group will continue to develop its core business with competitive advantages, so as to create more returns for all stakeholders and shareholders by expanding into the energy drink market, developing and launching more new products, accelerating the establishment of a new production base for fruit processing and beverages in the tropical climate zone, as well as actively engaging in mergers and acquisitions and strategic cooperation. We sincerely thank the two former directors of our Group, Mr. Wang Hu and Mr. Liu Zhumeng, for their guidance and contribution to the Group in the past. In the near future, the Group will actively look for experienced personnel in the areas of research and development, and sales of innovative food and beverages, to join and lead the Group to expand into more new market segments in order to create better return to our stakeholders and shareholders.
About Tianyun International Holdings Limited (Stock Code: 6836.HK)
Tianyun International Holdings Limited (the "Company") and its subsidiaries (collectively referred to as the "Group") are principally engaged in (i) the research and development, production and sales of processed fruit packaged in metal containers, plastic cups, glass containers and aluminium foil bags and beverages ii) trading of fresh fruit. Processed fruit products are sold both under its own brands "Bingo Times", "fruit zz" and "Tiantong Times" and on an OEM basis. The beverages are sold under its own brand Shiok Party.
The Group has been consistently committed to provide healthy and safe products to its customers. As one of the food enterprises with the most complete quality certifications, we have been continuously dedicated to adhering to stringent international production standards and are accredited with BRC (A), IFS Food (High), FDA(FSMA), HALAL, SC, KOSHER, BSCI and ISO22000, etc. in respect of our production facilities, quality control and management. The Group has also passed the internal food production standard reviews and audits from several the UK and US supermarket chains. At the same time, as a Chinese "Equal production line; Equal standard; Equal quality" food production and export enterprise, the Group has been supplying products of equivalent quality to domestic and international markets. Since 2016, the Group's own brand processed fruit products have continued to obtain a high degree of market recognition and became the first fruit processor in China's fruit processing industry to place the "Zero Added Preservatives" label on its products.
The Group was awarded respectively the China's Most Promising Listed Companies by the internationally renowned financial magazine Forbes, and the "2017 Linyi Mayor Quality Award" as an integrated food production and sales enterprise by the government of the Linyi City of the Shandong Province. The Group's newly and proprietary researched, developed and produced pure fruit snack food also received a "Certificate of Invention Patent" from the State Intellectual Property Office of the People's Republic of China in 2018. The Group and its own brand "Bingo Times" were awarded as China Canned Food Leading Enterprise and China Canned Food Leading Brand by national institutions respectively in 2019.
For more information, please visit www.tianyuninternational.com
Topic: Press release summary
Source: Tianyun International Holding Limited
Sectors: Food & Beverage, Daily News
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From the Asia Corporate News Network
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