Central Enterprise Poverty Area Industry Investment Fund Co., Ltd., a fund managed by SDIC Chuangyi Industry Fund Management Co., Ltd., agreed to acquire a 28.48% stake in Longping Biotechnology (Hainan) Co., Ltd. from Yuan Long Ping High-Tech Agriculture Co., Ltd. (SZSE:000998) for approximately CNY 280 million on June 11, 2021. The consideration of CNY 284,757,119 shall be paid in two installments, of which, the first equity transfer payment is 51% of the equity transfer payment, which is CNY 145,226,131. Payment within 5 working days after meeting; the second phase of equity transfer payment is 49% of the equity transfer payment, which is CNY 139,530,988. In a related transaction, Central Enterprise Poverty Area Industry Investment Fund also agreed to subscribe for Longping Biotechnology's newly increased registered capital of CNY 7.5 million at a price of CNY 125,628,141 million, accounting for 11.16% of the registered capital of Longping Biotechnology after the completion of this capital increase. Among them, CNY 7.5 million will be included in the registered capital of Longping Biotechnology, and the premium portion of CNY 118,128,141 million will be included in the Capital Reserve. Longping Biotechnology reported audited total assets of CNY 11.5 million, audited net assets of CNY 9.5 million, and audited operating income of CNY 0.17 million for the year ended December 31, 2020. The matter has been reviewed and approved at the eighth (temporary) meeting of the company's eighth board of directors, and needs to be submitted to the general meeting of shareholders for deliberation.