Shanghai Pengxin Group Co., Ltd. signed Framework Agreement on Equity and Asset Transfer to acquire 69.24% stake of Dakang Meat Products Co., Ltd and 100% stake of Huaihua Xinmao Animal Husbandry Co., Ltd. from Pengdu Agriculture & Animal Husbandry Co., Ltd. (SZSE:002505) on December 29, 2020. Pursuant to the terms, Pengdu Agriculture & Animal Husbandry Co., Ltd. will holds 88.24% stake in Dakang Meat Products Co., Ltd and 100% stake in Huaihua Xinmao Animal Husbandry Co., Ltd. Dakang Meat Products Co., Ltd reported total assets of CNY 1,067.96 million and net assets of CNY 563.025 million for January-November 2020. Huaihua Xinmao Animal Husbandry Co., Ltd. reported Total assets of CNY 78.31 million and net assets of CNY 71.83 million for January-November 2020. All unrelated directors at the eighth meeting of the seventh board of directors of Pengdu Agriculture & Animal Husbandry Co., Ltd reviewed and approved the transaction and it does not need to be submitted to the shareholders meeting for deliberation.