Beijing Sanyuan Foods Co., Ltd. (SHSE:600429) intends to acquire 46.3675% stake in Beijing Shounong Animal Husbandry Development Co., Ltd. from Beijing Xingshi Investment Management Center (Limited Partnership) and Beijing Sanyuan Seed Technology Co., Ltd. for CNY 1.1 billion on November 13, 2021. The consideration will be paid in cash. In this transaction, Beijing Sanyuan Foods Co., Ltd. intends to acquire 4.6325% stake from Beijing Xingshi Investment Management Center (Limited Partnership) and 41.735% stake from Beijing Sanyuan Seed Technology Co., Ltd. After the completion of this transaction, Beijing Sanyuan Foods Co., Ltd. holds 51% of the equity of Beijing Shounong Animal Husbandry Development Co., Ltd. As of December 31, 2020, Beijing Shounong Animal Husbandry Development Co., Ltd. had total assets of CNY 4.6 billion and net assets of CNY 1.9 billion.

For the year ending December 31, 2020, Beijing Shounong Animal Husbandry Development Co., Ltd. reported EBIT of CNY 2.2 billion and net profit of CNY 2 billion. The transaction still needs to be reviewed and approved by the company's shareholders meeting, and still needs to be approved by the respective competent decision-making bodies of Beijing Sanyuan Seed Technology Co., Ltd and Xingshi Investment. The transaction is approved by the shareholders of Beijing Sanyuan Foods.