Gansu Dunhuang Seed Group Co.,Ltd. announced that it has signed conditional effective share subscription agreement with Jiuquan Iron and Steel (Group) Co., Ltd. for a private placement of not more than 158,340,624 A shares on August 30, 2020. As a part of the transaction, investor will acquire 23.08% stake in the company. The transaction is subject to the approval of China Securities Regulatory Commission.