Hunan Haili Chemical Industry Co., Ltd. (SHSE:600731) signed an agreement to acquire 60% stake in Hunan Xingshu Seed Industry Co., Ltd. from Hunan Haili High & New Technology Industry Group Co. for CNY 12.1 million on December 20, 2021. As per the transaction, Hunan Haili Chemical Industry Co., Ltd. will use its own funds of CNY 8.4 million to finance the transaction.

As on September 30, 2021, Hunan Xingshu Seed Industry Co., Ltd. generated total assets of CNY 19.4 million and owners' equity of CNY 6.8 million. The transaction is approved by board of directors of Hunan Haili Chemical Industry Co., Ltd.