Jiangsu Hengshun Group Company Ltd. signed an agreement to acquire 72% stake in Zhenjiang Hengshun Rice Industry Co., Ltd. from Jiangsu Hengshun Vinegar-Industry Co.,Ltd (SHSE:600305) for CNY 11.4 million on December 24, 2021. Jiangsu Hengshun Group Company Ltd. plans to acquire equity in Zhenjiang Hengshun Rice Industry from all its minority shareholders. Zhenjiang Hengshun Rice reported total assets as CNY 52.5 million and net assets as CNY 11.02 million for the period end on May 31, 2021. Zhenjiang Hengshun reported operating income as approximately CNY 130 million and net profit as CNY 4.3 million for the period end on December 31, 2021. The transaction has been approved by the board of Jiangsu Hengshun Vinegar-Industry.