Hunan New Wellful (600975.SH) plans to acquire partial equity of its controlling subsidiary Guanglian Company for 53.743 million yuan.

Hunan New Wellful (600975.SH) announced that the company plans to acquire, through an agreement-based transfer for 53.743 million yuan, an aggregate 18.8812% equity interest in Hunan Changzhutan Guanglian Live Pig Trading Market Co., Ltd. ("Guanglian Company") held by seven individual natural person shareholders of Guanglian Company: Ms. Zhou Yinxiang, Mr. Li Huanyan, Mr. Liu Qishu, Mr. Qin Quanmei, Mr. Xia Ruowen, Ms. Ding Caifeng, and Mr. Tang Wei. Guanglian Company was established in 2008. In 2012, Hunan New Wellful obtained controlling rights and operating rights of Guanglian Company through an equity acquisition, becoming its largest shareholder. Guanglian Company holds the only Class A slaughtering license in Changsha County, with an annual slaughtering capacity of 700,000 head, supported by a 40,000-ton cold storage facility and 240 commercial shops. In addition, it undertakes frozen pork reserves at the central, provincial, and municipal levels, and has been recognized as a national standardized demonstration slaughterhouse for live pigs, a cold storage facility for central reserve meat storage, and a key national supplier of daily necessities, giving it significant policy-enabled advantages. In order to strengthen control over its core slaughtering platform, fully leverage its leading role, promote deep synergy between Guanglian Company's slaughtering business and Hunan New Wellful's breeding, cold chain, and sales segments, further enhance the synergies of the entire industry chain, and optimize resource allocation, Hunan New Wellful plans to acquire the equity held by the natural person shareholders of Guanglian Company. Upon completion of this equity acquisition, all shareholders of Guanglian Company will be state-controlled enterprises, which will further strengthen control over Guanglian Company, optimize its governance structure, and improve decision-making and operational efficiency.