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.