Hainan Shennong Seed Industry Technology (300189.SZ) intends to transfer 88.67% stake in its subsidiary Fujian Shennong Dafeng to activate existing assets.

Hainan Shennong Seed Industry Technology (300189.SZ) announced that in order to further optimize the company's asset structure, revitalize existing assets, enhance asset operation efficiency, strengthen the company's financial strength, and promote high-quality development of the company, the company plans to transfer 88.67% of its equity in its holding subsidiary Fujian Shennong Dafeng Seed Industry Technology Co., Ltd. (referred to as "Fujian Shennong Dafeng") to Li Kuntai. The company has not yet signed a formal equity transfer agreement with the counterparty, so it is currently unable to determine the extent of the impact of this transaction on the company's performance in 2024. The final result of the equity disposal in this transaction will be based on audit assessment data. It is expected that this transaction will not have any adverse effects on the company's financial condition and continued operational capabilities, and there is no situation that would harm the interests of the company's small and medium-sized shareholders.