Coffee review

Citic Publishing plans to invest 35 million yuan to participate in the establishment of a coffee and catering company.

Published: 2024-11-17 Author: World Gafei
Last Updated: 2024/11/17, Citic Publishing (834291) announced on March 29th that the company plans to jointly invest with CP Coffee Business Hong Kong Company Limited (CP Coffee Hong Kong), a subsidiary of CP Group, to set up a shareholding company, Coffee King Catering Technology Co., Ltd., with a registered capital of 70 million yuan, of which the company contributed 35 million yuan, accounting for 50% of the registered capital. Because of the counterparty and the public

Citic Publishing (834291) announced on March 29th that the company plans to jointly invest with CP Coffee Business Hong Kong Company Limited ("CP Coffee Hong Kong"), a subsidiary of CP Group, to set up a shareholding company, Coffee King Catering Technology Co., Ltd., with a registered capital of 70 million yuan, of which the company contributed 35 million yuan, accounting for 50% of the registered capital. As there is no relationship between the counterparty and the company, this foreign investment does not constitute a related party transaction.

The data show that after years of development, CP Group has established a complete coffee industry chain, forming a set of mature whole industry chain processes from coffee bean planting, baking, equipment sales and maintenance, logistics and transportation to barista training, network construction, store operation, brand design and so on.

According to the company, the company jointly funded the establishment of a coffee catering company with subsidiaries of CP Group. The aim is to make full use of CP Group's experience in operating coffee in Thailand and the existing retail outlets and local retail experience of Citic Bookstore, a wholly-owned subsidiary of the company, to jointly develop the Chinese coffee market. This overseas investment is conducive to the construction of the company's "smart life" retail system and the diversified development of CITIC Bookstore.

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