Sichuan Julong Huizhi Agriculture Co., Ltd. signed the equity transfer agreement to acquire a 80% stake in Sichuan Long Ping Corn Seed Co., Ltd. from Yuan Long Ping High-Tech Agriculture Co., Ltd. (SZSE : 000998) for CNY 5.1 million on November 15, 2022. Following this transaction, Yuan Long Ping High-Tech Agriculture will hold no stake in Sichuan Long Ping Corn Seed and Sichuan Julong Huizhi Agriculture will hold an 80% stake in it. Sichuan Long Ping Corn Seed had total assets of CNY 19.63 million and net assets of CNY -8.99 million, as at September 30, 2022.

The transaction has been reviewed and approved by the Yuan Long Ping High-Tech Agriculture's decision-making committee, and does not need to be reviewed by their board of directors and shareholders' meeting.