Yichang Tea Group Acquired Caihua and Yihong Local Tea Enterprises

Huang Zhihua expressed his heartfelt thanks to all parties involved in the equity cooperation between the two tea companies. He said that the signing of the agreement marked the substantial progress made in establishing Yichang Tea Group to revitalize the tea industry in Yichang, and laid the foundation for the spring tea listing in 2023 to achieve a "good start".

Deng Hongjing said that Wufeng is one of the top 100 counties in the tea industry, and the tea industry is the leading industry in the county. The county Party Committee and government will do their best to support the development of Yichang Tea Group and actively send policies, projects and services to the enterprise. Liu Peng reviewed the glorious history of Yi Hong Black Tea and looked forward to cooperating with Angel Yeast Group to optimise the allocation of factors, aggregate resources and power, release reform energy and boost Yi black tea's revival.

Xiong Tao and Han Jingzhong respectively on behalf of Angel Yeast Group, International Trade Group to make a statement.

Yichang Tea Group, International Trade Group, Yichang Changle Investment Group Co., LTD., Yidu Guotong Investment and Development Co., LTD., etc. jointly signed the equity cooperation agreement. According to the agreement, Yichang Tea Group will hold 60% of the equity of Caihua Company and Yihong Company respectively.

In the next step, Yichang Tea Group will continue to implement the work deployment of the municipal Party Committee and the municipal government on accelerating the high-quality development of Yichang tea industry, give full play to the advantages of brand, channel, technology and capital, integrate the team, resources and market, strive to improve the core competitiveness of Yichang tea industry, and make a good overall plan for tea culture, tea industry and tea technology.