Keda Manufacturing Terminates Acquisition of 51.55% Stake in Tefu International
On August 14, 2026, Keda Manufacturing announced that its board approved terminating the major asset restructuring to acquire a 51.55% stake in Guangdong Tefu International Holdings (Tefu International) via share issuance and cash, along with the associated private placement to raise funds. The company stated the termination will not affect its control over Tefu International, a subsidiary, nor its future development plans.
Keda Manufacturing issued an announcement on August 14, 2026, stating that its board of directors approved the proposal to terminate the major asset restructuring and sign related termination agreements, deciding to end the acquisition of a 51.55% equity interest in Guangdong Tefu International Holdings Co. , Ltd. (referred to as "Tefu International") through the issuance of shares and cash payment, and also to terminate the plan to issue shares to no more than 35 specific investors to raise supporting funds.
Tefu International is a controlled subsidiary of Keda Manufacturing. The announcement indicated that the termination of this transaction will not affect the company's control over Tefu International, nor will it affect the company's future development plans for it.