A New Business Name for A Fresh Start — The One and Only “Fai Gor” Hotpot Chain Brand
Recently, Daqing Dairy Holdings Ltd has completed its acquisition of the parent company of the renowned Fai Gor Seafood Hot Pot Restaurant in Mainland China — Longhui International Holdings Ltd. Daqing Dairy Holdings Ltd was officially renamed as “Longhui International Holdings Ltd” (stock code: 1007.HK). Through a reverse takeover transaction, the company has recently completed its acquisition of Global Dairy Holdings Ltd and has gathered a total of 7.58 million from more than six placees. In the meanwhile, the company has deviated from its dairy business to become a catering business.
About The Fai Gor Chain Brand
The Fai Gor chain brand was founded in Shanghai in 2004. Since 2010, it has been rapidly expanding its market in the major cities of China. There are three brands under ts parent company namely, “Fai Gor”, “Faigo hotpot” and “Hong yuan wai”, and nearly a hundred restaurants in China. Among the three brands, “Fai Gor” is the most well-known one, which mainly serves Cantonese-style seafood hotpots. Thanks to its positive brand image and successful word-of-mouth marketing, the brand has stood out from a sea of chain hotpot brands in China and was acclaimed as the top ten Chinese hotpot brands in 2016.
In this reverse takeover transaction, AVISTA is honored to be engaged in providing financial valuation services that relate to share incentive scheme to the company to fulfill its requirements for financial reporting purpose.