Yuntianhua Group Co., Ltd. intends to acquire 35.77% stake in Jilin Yuntianhua Agricultural Development Co., Ltd. from Yunnan Yuntianhua Co., Ltd. (SHSE:600096) for CNY 51.5 million on May 21, 2020. The consideration will be paid in one lump sum within 2 working days from the effective date of the agreement. Jilin Yuntianhua Agricultural Development Co., Ltd. reported total assets of CNY 5.0 billion, revenue of CNY 5.1 billion, net loss of CNY 137.1 million and net assets of CNY 353.4 million for the year ending December 31, 2019. The transaction is subject to approval by the shareholders of Yunnan Yuntianhua Co., Ltd. and approval by the competent state-owned asset management department. The transaction has been approved by the Board of Yunnan Yuntianhua Co., Ltd. As of June 5, 2020, the transaction has been approved by the shareholders of Yunnan Yuntianhua Co., Ltd.