Austasia Group (02425) Joint Venture plans to acquire 100% equity of Inner Mongolia Chifeng Boyuan Seed Cattle Breeding with 20 million yuan.

AUSTASIA GROUP (02425) announced that on March 26, 2026, a joint venture consortium entered into an agreement with the seller, Chifeng Qiangben Agriculture Investment (Group) Co., Ltd., to acquire 100% equity of Inner Mongolia Chifeng Boyuan Breed Cattle Breeding Co., Ltd. for a price of RMB 20 million. On March 30, 2026, the joint venture consortium has paid the required RMB 20 million to the seller. Joint venture company A (Austasia Global (Shanghai) Livestock Co., Ltd.) and joint venture company B (Inner Mongolia Zhongao Nongtou Agricultural Co., Ltd.) formed a joint venture consortium on February 27, 2026, and submitted a bid on March 12, 2026 to acquire 100% equity of the target company, with joint venture company A acquiring 60% and joint venture company B acquiring the remaining 40%. The joint venture consortium received the winning bid notification on March 19, 2026. Inner Mongolia Chifeng Boyuan Breed Cattle Breeding Co., Ltd. is primarily engaged in the livestock farming business in China. The acquisition of the target company is of strategic importance to the group. The Board of Directors believes that the acquisition will enable the group to ensure the continuity, quality, and safety of sourcing frozen semen in the raw milk and beef cattle business segments. In addition, with the existing genetic improvement program, the group expects to achieve synergies, improve genetic traits of the livestock, and expand the business to sell frozen semen and in vitro fertilized embryos to external customers.