Lancang Ancient Tea (06911): Guangzhou Kangrui will exchange a total of 35 tons of new tea products with Guangzhou traders for a total of 160 tons of old tea products.

Zhito Financial APP News, Lancang Ancient Tea (06911) announced that, after verification by the company's special working group and confirmation by relevant personnel, the following situation is as follows: On December 5, 2024, after business communication between Guangzhou Kangrui and a customer in Foshan (Foshan customer) and a trader engaged in the trade of aged tea in Guangzhou ("Guangzhou trader"), the main representatives of the three parties jointly signed a "Memorandum of Cooperation on Goods" ("Memorandum"), in which it was agreed that Guangzhou Kangrui intends to exchange 35 tons of new tea for no less than 70-87.5 tons of aged tea held by the Guangzhou trader for sale, thereby activating their respective inventory advantages. After obtaining the new tea, the Guangzhou trader will combine Foshan customer's channel resources to acquire new customers and jointly complete the sales; on January 4, 2025, when Foshan customer retrieves the goods stored in Guangzhou Kangrui, they will also take away the 35 tons of new tea products held by Guangzhou Kangrui, leading to inventory losses.