Xinjiang Talimu agriculture ownership shifts to state-owned farm group

Xinjiang Talimu Agriculture Development Co., Ltd. (SSE:600359) is undergoing a change in its controlling shareholder as Xinjiang Talimu Agriculture Reclamation Group Co., Ltd. is set to acquire a 40.32% stake. This ownership transfer, previously held by Alar City State-owned Capital Investment and Operation Group Co., Ltd., involves 153,815,575 shares and is being executed as a gratuitous transfer of state-owned equity, as outlined in an agreement signed on September 4, 2025.

The acquisition will make Xinjiang Talimu Agriculture Reclamation Group Co., Ltd. the new controlling shareholder of Xinjiang Talimu Agriculture Development Co., Ltd., while the ultimate actual controller remains the First Division State-owned Assets Supervision and Administration Commission. This transaction has received necessary approvals, including from the First Division State-owned Assets Supervision and Administration Commission on August 28, 2025, and board resolutions from both transferor and transferee.

This gratuitous transfer qualifies for an exemption from triggering a mandatory tender offer, in accordance with regulatory provisions for state-owned asset transfers. The transfer is effective as of December 31, 2024, and is not expected to materially impact the company's independence or normal operations.