Shenzhen Kingsino Technology Co.,Ltd. (SZSE:002548) entered into an agreement to acquire Guangzhou Jinnong Modern Agriculture Co., Ltd. from Guangzhou Jinnong Ecological Agriculture Investment Partnership (Limited Partnership), Bay Area Chanrong Huinong Investment (Guangzhou) Co., Ltd. and Guangzhou Jinnong Modern Agricultural Industry Development Co., Ltd. for CNY 480 million on August 31, 2022. The board of directors of Shenzhen Kingsino Technology approved the transaction. The transaction is subject to approval from shareholders of Shenzhen Kingsino Technology.

Guangzhou Jinnong Modern Agriculture Co. recorded total assets of CNY 1.17 billion and net assets of CNY 344.5 Million as of August 31, 2022. As of December 28, 2022, The shareholders of Shenzhen Kingsino Technology has approved the transaction at 5th special shareholders' meeting for 2022 held on December 9, 2022.