On January 24, Yuan Longping High-Tech Agriculture Co.Ltd(000998) announced that its joint-stock Company Hangzhou Ruifeng planned to transfer some equity and increase capital and shares to introduce advantageous strategic investors.
This time, the central enterprise rural industry investment fund Co., Ltd. (hereinafter referred to as "central enterprise fund") transferred part of the equity of Hangzhou Ruifeng through multiple equity transfer transactions. Yuan Longping High-Tech Agriculture Co.Ltd(000998) transferred the 4.1% equity of Hangzhou Ruifeng held by Chengtong CITIC agricultural structural adjustment Investment Fund (limited partnership) for 62.976 million yuan.
At the same time of the share transfer transaction, Hangzhou Ruifeng plans to increase its capital according to the pre investment valuation of RMB 2.035 billion, and all the newly increased registered capital will be jointly subscribed by the central enterprise fund, Wuxin Longfeng (Jiaxing) equity investment partnership (limited partnership) and everything phase I (Xiamen) venture capital partnership (limited partnership).
After the completion of this transaction, the central enterprise fund strategically invested in Hangzhou Ruifeng through share transfer transaction and capital increase transaction, with a total shareholding ratio of 20.00%; Yuan Longping High-Tech Agriculture Co.Ltd(000998) is still the largest enterprise shareholder of Hangzhou Ruifeng, and the shareholding ratio of Yuan Longping High-Tech Agriculture Co.Ltd(000998) to Hangzhou Ruifeng has changed from 22.9704% to 23.1957%.
According to the announcement, Hangzhou Ruifeng was established on December 28, 2009, mainly engaged in the research and development of transgenic technology in the seed industry. Hangzhou Ruifeng is a scientific and technological enterprise focusing on the research and development of biotechnology products for crops such as corn and soybean. Relying on Zhejiang University, it has established China's leading biotechnology research platform and commercial biological breeding research and development system. In December 2019, Hangzhou Ruifeng corn trait product "Ruifeng 125" was the first batch to obtain the safety certificate of agricultural genetically modified organisms, which has completed the planning and layout of the Chinese market, and the cooperative corn varieties have been transferred. In December 2021, Hangzhou Ruifeng corn character product "Zheda Ruifeng 8" was publicized in the approval list of agricultural genetically modified organisms safety certificate (production application) in the Department of science, technology and education of the Ministry of agriculture and rural areas.
Yuan Longping High-Tech Agriculture Co.Ltd(000998) said that as the leader of China's seed industry, the company ranks first in China's corn seed market share. The company attaches great importance to the layout of biological breeding field. This strategic increase in Hangzhou Ruifeng is in line with the Yuan Longping High-Tech Agriculture Co.Ltd(000998) development strategy. As the industrial shareholder of Hangzhou Ruifeng, Yuan Longping High-Tech Agriculture Co.Ltd(000998) will promote closer cooperation and resource sharing between upstream and downstream industries, and promote the layout of Hangzhou Ruifeng in China's international market.
