Zhongnongfa Seed Industry Group expands operations, updates governance

Zhongnongfa Seed Industry Group's board of directors approved the establishment of a wholly-owned subsidiary, Jiangsu Gaoyou Seed Industry Co., Ltd., with a registered capital of CNY 10 million. This new entity, under Jiangsu Jin Tudi Seed Industry Co., Ltd., aims to optimize business layout and strengthen regional market synergy through seed breeding bases, rice and wheat seed production, and specialized grain operations. This strategic move is expected to drive the application and commercialization of agricultural scientific and technological achievements.

The board also passed resolutions to revise the "Company Managerial Work Rules" and formulate a "List of Authorized Matters for the Board of Directors," aligning with directives to improve corporate governance in state-owned enterprises. Concurrently, the 2025 third extraordinary general meeting approved the appointment of Beijing Dadi Taihua Certified Public Accountants (Special General Partnership) as the company’s auditor for 2025 and sanctioned an increase in daily related transaction limits for Henan Agrochemical and Beijing Yingtai.

Furthermore, shareholders approved the use of capital reserves to offset losses and sanctioned related party transactions for the advanced procurement of wheat seed production plans from Huangfan District Industrial Group for the 2025-2026 period. All resolutions were passed with overwhelming majority, ensuring the company's continuous growth and compliance.