Zuming Bean Products (SHE:003030) agreed to transfer its 50.8% stake in Beijing Zuming Xiangxiang Foods to its joint venture partners under an equity transfer and contract termination agreement.
The move reflects the bean product manufacturer's decision to withdraw from the venture due to operational considerations, according to a Wednesday filing with the Shenzhen bourse.
The stake will be transferred to Beijing Xiangxiang Weiyi Food Factory and its shareholders, with the transfer price to be paid in phases along with 40 million yuan in loans by the end of April 2026.
Shares of Zuming Bean Products closed 2% lower Wednesday.
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