State Development Seed Technology Group Co., Ltd. agreed to acquire 20% stake in Hefei Fengle Seed Co.,Ltd (SZSE:000713) from Hefei Construction Investment and Holding Co.,Ltd. for CNY 1.09 billion on July 17, 2023. As on December 6, 2023, the share transfer agreement was signed. Transaction was recently approved by State Administration for Market Regulation.

Transaction is still subject to State-owned Assets Supervisory Administration, and Shenzhen Stock Exchange.