Yuan Longping Agriculture completes asset purchase, focuses on growth

Yuan Longping High-Tech Agriculture (SZSE:000998) announced the completion of a major asset purchase involving a 7.14% equity stake in Longping Development, making Longping Development a subsidiary. CITIC Securities, acting as the independent financial advisor, confirmed the completion and adherence to all agreements. Alongside the asset purchase, the company highlighted its focus on research, development, and strategic management in its 2024 annual report. While 2024 revenue decreased by 7.13% to CNY 8.56 billion, and net profit fell 43.08% to CNY 114 million, the company is focused on streamlining operations and capitalizing on seed industry revitalization policies. As of April 18, 2025, Yuanlongping also disclosed that it is adhering to regulations by signing tripartite supervision agreements for its raised capital of CNY 1,187,526,409.91.