New Agricultural Development: The Farming Reclamation Group acquires 40.32% of the shares.

Announcement of the New Agricultural Development: Guotou Group will transfer its 40.32% equity in the New Agricultural Development to Nongken Group for free. This acquisition is between different entities controlled by the same actual controller and has not led to a change in the actual controller of the New Agricultural Development. The acquirer meets the conditions for exemption from issuing a tender offer under the "Management Measures for Acquisition of Listed Companies". The relevant matters involved in this acquisition have gone through necessary internal decision-making procedures and have been approved by the State-owned Assets Commission of the First Division. Nongken Group and Guotou Group have signed a equity transfer agreement. The acquirer Nongken Group is a wholly-owned subsidiary of Guotou Group, which is 95.12% owned by the State-owned Assets Commission of the First Division. This acquisition does not involve employee placement or debt-related matters. The acquirer promises that there are no false records, misleading statements, or significant omissions in this summary of the report.