CH AGRI-PROD EX (00149) plans to sell 51% equity of Yulin Hongjin Agricultural and Sideline Products Wholesale Market Co., Ltd. for RMB 24.69 million.

CH AGRI-PROD EX (00149) and WANG ON GROUP (01222) jointly announced on May 30, 2025 that CH AGRI-PROD EX's wholly-owned subsidiary Long Qun has entered into a reduction agreement with Yulin Investment and the target company Yulin Hongjin Agricultural and Sideline Products Wholesale Market Co., Ltd. As per the agreement, Long Qun's equity in the target company will be reduced from 51% to zero, at a total consideration of approximately RMB 24.69 million. This amount will be transferred from the target company's bank account via wire transfer and paid to Long Qun. According to Chapter 14 of the Listing Rules, the reduction of equity constitutes the sale by Wang On Group and China Shenzhen Agricultural Power Group of their respective indirect equity interests in the target company. As of the date of this joint announcement, Long Qun and Yulin Investment hold 51% and 49% of the target company's shares, respectively. The target company is primarily engaged in property ownership and operation of the Yulin market. Long Qun has been cooperating with Yulin Investment and its predecessor in setting up and operating the Yulin market since 2006. As part of Wang On Group and China Shenzhen Agricultural Power Group's ongoing review of their respective asset portfolios, the boards of directors of Wang On Group and China Shenzhen Agricultural Power Group believe that now is the appropriate time for the group to fully realize and unlock the investment value in the target company and provide working capital and improve their financial position to meet their respective operational needs.