Debon Securities on Western Animal Husbandry acquisition

On June 20, 2024, the Eighth Division State-owned Assets Supervision and Administration Commission approved the gratuitous transfer of a 41.82% stake in Western Animal Husbandry from Shihezi State-owned Assets to Tiande Bio. This made Tiande Bio the controlling shareholder of Western Animal Husbandry, with ultimate control remaining with the Eighth Division State-owned Assets Supervision and Administration Commission.

The transfer of 88,378,171 unrestricted shares was confirmed on September 9, 2024, according to the China Securities Depository and Clearing Corporation Limited. Debon Securities, acting as financial advisor for Tiande Bio, conducted continuous supervision for 12 months post-acquisition. The review indicates that transaction procedures complied with relevant laws and regulations, and information disclosures were timely and accurate.

During the supervision period, Tiande Bio and Western Animal Husbandry operated in compliance with governance and internal control requirements. No violations of public commitments were identified regarding independence, avoidance of competition, or related party transactions. Furthermore, no plans were implemented to significantly alter Western Animal Husbandry's main business, assets, or management.