Li Xiaohua and Xin Zhigang signed an agreement to acquire 33% in Liaoning Denghai Seeds Co., Ltd. from ShanDongDenghai Seeds Co.,LTD for CNY 1.7 million.

Li Xiaohua and Xin Zhigang signed an agreement to acquire 33% in Liaoning Denghai Seeds Co., Ltd. from ShanDongDenghai Seeds Co.,LTD (SZSE:002041) for CNY 1.7 million on March 7, 2017. Under the terms, Li Xiaohua will acquire 26% stake for CNY 1.3 million and Xin Zhigang will acquire 7% stake for CNY 0.35 million. The Board of Directors of ShanDongDenghai Seeds Co.,LTD approved the deal. The deal does not require approval from shareholders of ShanDongDenghai Seeds Co., Ltd.