Beijing Xujiahe Technology Co., Ltd. agreed to acquire 65% stake in Shanghai Weinong Biotechnology Group Co.,Ltd. from Beijing Dabeinong Technology Group Co.,Ltd. (SZSE:002385) for approximately CNY 210 million on August 9, 2019. Upon completion, Beijing Dabeinong Technology Group Co.,Ltd. will not hold any stake in Shanghai Weinong Biotechnology Group Co.,Ltd. Within 10 days since signing of the agreement a 10% of the transactional price will be paid as a guarantee to the transaction. Another 30% of the price will be paid within 15 days since signing of the agreement. The extant 60% will be paid before July 31, 2020. For the year ended December 31, 2018, Shanghai Weinong Biotechnology Group Co.,Ltd. reported total assets of CNY 384.2 million, total common equity of CNY 221.7 million, EBIT of CNY 218.8 million and net income of CNY 10.07 million. The transaction is approved by Board of Directors of Beijing Dabeinong Technology Group Co.,Ltd. Beijing Xujiahe Technology Co., Ltd. cancelled the acquisition of 65% stake in Shanghai Weinong Biotechnology Group Co.,Ltd. from Beijing Dabeinong Technology Group Co.,Ltd. (SZSE:002385) on August 10, 2020.