Hunan New Wellful Co.,Ltd. (SHSE:600975) agreed to acquire Hunan Tianqin Animal Husbandry Development Co., Ltd. on September 1, 2022. In related transaction, Hunan New Wellful will acquire stakes in Hunan Tianxin Breeding Share Co., Ltd., Yuanjiang Tianxin Seed Industry Co., Ltd., Hengdong Tianxin Seed Industry Co., Ltd., Jingzhou Xiangmu Seed Industry Co., Ltd., Linxiang Tianxin Seed Industry Co., Ltd., Hunan Tianhan Animal Husbandry Development Co., Ltd., Chenzhou Xiasitian Agricultural Technology Co., Ltd., Xinhua County Jiuyang Agricultural Development Co., Ltd., Hengdong Xinbang Animal Husbandry Development Co., Ltd., Hunan Tianhan Animal Husbandry Development Co., Ltd. and Longshan Tianhan Animal Husbandry Development Co., Ltd. for combine consideration of CNY 2.21 billion out of that CNY 1.96 billion will be paid by share issuance and CNY 247.898 million will be paid in cash. The board of Hunan New Wellful approve the deal on 33rd session of 5th directorate held on September 1, 2022.

As on September 21, 2022, The shareholders of Hunan New Wellful has approved acquisition of assets through the issuance of shares and cash and raising of supporting on 1st Extraordinary Shareholders Meeting held on September 21, 2022. 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. acted as financial advisor, Hunan Qiyuan Law Firm acted as legal advisor and Moore Stephens Da Hua acted as accountant to Hunan New Wellful Co.,Ltd. (SHSE:600975) in the deal.