EASYKNIT INT'L (01218.HK): Acquires 1,400,000 Shares of BEST FOOD HLDG in Open Market for HK$ 1.288 Million
NewTimeSpace News: On August 31, 2026, Easyknit International Holdings Limited (stock code: 01218) announced that, through its direct wholly-owned subsidiary Yu Wing, it acquired an aggregate of 1,400,000 shares of Best Food Holding Company Limited (Best Food) in the open market on the same day, for a total consideration of HK$ 1,288,000 (before stamp duty and related expenses), representing an average purchase price of approximately HK$ 0.92 per share and approximately 0.089% of the issued Best Food shares, with the total consideration paid in cash from the Group's internal resources.
According to the announcement, immediately before the acquisition, the Group held 83,828,000 Best Food shares (approximately 5.31% of the issued Best Food shares); immediately after, the Group holds 85,228,000 Best Food shares (approximately 5.40%). As the acquisition was conducted in the open market, the identity of the sellers could not be confirmed; after making all reasonable enquiries, the directors confirmed that the sellers and their respective ultimate beneficial owners are independent third parties.
Under Rule 14.07 of the Listing Rules, as one or more applicable percentage ratios of the acquisition, when aggregated with the previous acquisitions of Best Food shares announced on October 17, 2025 and July 28, 2026, exceed 5% but are below 25%, the acquisition together with the previous acquisitions constitutes a discloseable transaction of the Company, subject to the reporting and announcement requirements under Chapter 14 of the Listing Rules.
Best Food Holding Company Limited is a company incorporated in the Cayman Islands, listed on the Main Board of the Stock Exchange (stock code: 1488). The Best Food Group is principally engaged in chain restaurant operations, mainly in the Chinese market, and is also engaged in the investment, acquisition and management of restaurant brands. According to publicly available information, in its 2026 interim results, Best Food recorded revenue of approximately RMB 169.1 million for the six months ended June 30, 2026, with a period loss of approximately RMB 25.5 million, narrowing by approximately 29.5% from the loss of approximately RMB 36.2 million in the same period of 2025; as of June 30, 2026, the total number of outlets under Best Food Group and its associates' brands increased to 1,179. Best Food is backed by institutional investor Hony Capital, a leading Chinese private equity and alternative investment manager founded in 2003, initiated by and with Legend Holdings Corporation (stock code: 3396) as its principal controlling shareholder. The Board considered that the acquisition is in line with the Group's principal business of securities investment, provides the Group with an attractive investment opportunity to enhance investment returns, and was conducted in the open market at prevailing market prices on normal commercial terms, fair and reasonable and in the overall interests of the Company and its shareholders.
The source of this information is the HKEX announcement.
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