Beijing Dabeinong Technology Group Co.,Ltd. (SZSE:002385) signed conditional share transfer agreement to acquire 32.35% stake in Shandong Rongchang Breeding Co., Ltd from Beijing Rongtuo Wisdom Agriculture Investment Partnership Enterprise (Limited Partnership) for approximately CNY 150 million shares on September 17, 2017. Under the terms, Beijing Dabeinong Technology will acquire 54.9 million shares at CNY 2.75 per share. In related transaction, Beijing Dabeinong Technology Group Co.,Ltd signed conditional share transfer agreement to acquire 13.26% stake in Shandong Rongchang Breeding Co., Ltd from group of sellers for approximately CNY 130 million and will issue CNY 3 billion notes. Post-acquisition, Beijing Dabeinong Technology Group Co.,Ltd will hold 45.61% stake (77.4 million shares) and Beijing Dabeinong Technology Group Co.,Ltd and its wholly-owned subsidiary Shandong Dabeinong Agriculture and Animal Husbandry Technology Co., Ltd will hold total 50.03% stake in Shandong Rongchang Breeding Co., Ltd. For the year ended December 31, 2016, Shandong Rongchang Breeding Co., Ltd reported revenue of CNY 123.2 million, total assets of CNY 425.3 million, operating income of CNY 19.22 million, net income of CNY 22.71 million and net assets of CNY 306.8 million. The transaction is approved by the board of directors of Beijing Dabeinong Technology Group Co.,Ltd. Beijing Dabeinong Technology Group Co.,Ltd. (SZSE:002385) cancelled the acquisition of 32.35% stake in Shandong Rongchang Breeding Co., Ltd from Beijing Rongtuo Wisdom Agriculture Investment Partnership Enterprise (Limited Partnership) on September 17, 2018.