Hunan Xiangliang Food Technology Co., Ltd. signed equity transfer agreement to acquire remaining 18% stake in Hunan Jinjian Rice Food Co., Ltd. from Jinjian Cereals Industry Co.,Ltd. (SHSE:600127) for CNY 1 on March 24, 2023. As of December 31, 2022, Hunan Jinjian total assets were CNY 103.2118 million, net assets were CNY -41.9431 million, operating income was CNY 38.289 million, and net profit was CNY -38.289 million. Jinjian Cereals Industry Co.,Ltd. board unanimously approved the transaction. For this equity transfer, the target company needs to issue the corresponding shareholder meeting resolution documents.

Hunan Xiangliang Food Technology Co., Ltd. completed the acquisition of remaining 18% stake in Hunan Jinjian Rice Food Co., Ltd. from Jinjian Cereals Industry Co.,Ltd. (SHSE:600127) on March 30, 2023.