Subsidiary of Fujian Tianma Science And Technology Group (603668.SH), Hualong Group plans to increase its investment in Hualong Bio by 160 million yuan. The shareholding will increase to 78.16%.

Fujian Tianma Science and Technology Group (603668.SH) has announced that its subsidiary, Fujian Hualong Group Feed Co., Ltd. (referred to as "Hualong Group"), intends to increase its capital by RMB 160 million in its controlled subsidiary, Fujian Hualong Biotechnology Group Co., Ltd. (referred to as "Hualong Biotech"), using its own funds. This is in line with the company's overall industry chain strategic layout and business expansion needs. Currently, Hualong Group holds a 53.20% equity in Hualong Biotech, while shareholder Fujian Zhaoyu Feed Co., Ltd. (referred to as "Zhaoyu Feed") holds a 46.80% equity in Hualong Biotech. Zhaoyu Feed has agreed to the capital increase but will not participate in it. They have already issued a "Declaration of Waiver of Preemptive Rights". After the completion of this capital increase, the registered capital of Hualong Biotech will increase from the original RMB 140 million to RMB 300 million. Hualong Group will hold a 78.16% equity in Hualong Biotech, while Zhaoyu Feed will hold a 21.84% equity.