CROWNICORP (00727) intends to acquire 100% equity of Sichuan Tianfu Golden Basin Liquor Industry Group.

CROWNICORP (00727) announced that its wholly owned subsidiary, Crown Finance Holdings Limited (CFH), has entered into a non-binding memorandum of understanding with China Baijiu Group Holdings Limited (China Baijiu Group), contingent upon the signing of a Share Transfer Agreement between the two parties. CFH intends to acquire 100% equity of Sichuan Tianfu Jinbendi Liquor Group Co., Ltd. (the target company) held by China Baijiu Group. The target company has been engaged in the production and sale of high-quality baijiu in China for many years. Given the strong potential of high-quality baijiu in the Chinese and global markets, this acquisition will greatly enhance the Group's development in the high-quality baijiu business.