Hunan New Wellful Co.,Ltd. (SHSE:600975) agreed to acquire remaining 51% stake in Xinhua County Jiuyang Agricultural Development Co., Ltd. for CNY 0.00773 million on September 3, 2022. As of September 19, 2022, Hunan New Wellful received approval from State-owned Assets Supervision and Administration Commission of the People's Government of Hunan Province regarding Hunan New Wellful Co.,Ltd issuing shares to acquire companies. As of September 22, 2022, shareholders of Hunan New Wellful Co., Ltd. approved the transaction. As of December 10, 2022, The Merger, Acquisition and Reorganization Examination Committee of Hunan New Wellful has conditionally approved the deal on December 9, 2022. China Merchants Securities Co., Ltd. (SHSE:600999) acted as financial advisor to Hunan New Wellful Co.,Ltd. (SHSE:600975). Hunan Qiyuan Law Firm acted as a legal advisor and China Merchants Securities Co., Ltd. (SHSE:600999) acted as a Accountant to Hunan New Wellful Co.,Ltd.

Hunan New Wellful Co.,Ltd. (SHSE:600975) completed the acquisition of remaining 51% stake in Xinhua County Jiuyang Agricultural Development Co., Ltd. on December 30, 2022.