Xinjiang Western Animal Husbandry acquisition under supervision in Q3 2025

Debon Securities has issued its continuous supervision report for the third quarter of 2025 concerning the acquisition of Xinjiang Western Animal Husbandry Co. by Xinjiang Tiande Biotechnology Co. The 2024 acquisition involved the gratuitous transfer of 88,378,171 shares, representing 41.82% equity, from Shihezi State-owned Assets Management (Group) Co. to Tiande Biotechnology. The report covers July 1 to September 30, 2025, detailing significant investments, asset transactions, related party transactions, and changes in senior management.

During the third quarter of 2025, Xinjiang Western Animal Husbandry engaged in significant related party transactions. This included the purchase of fresh milk from Tianshan Military Reclamation for RMB 11,389.51 thousand, within an approved limit of RMB 50,000.00 thousand. Sales of feed to subsidiaries of Tianshan Military Reclamation amounted to RMB 2,582.36 thousand, also within the approved limit of RMB 35,000.00 thousand. No other major related party transactions or significant investments were reported.

The company saw leadership changes as Mr. Li Changsheng resigned as chairman, director, and convener of the strategy committee. Mr. Liu Yu was subsequently elected as the new chairman on July 10, 2025. Furthermore, Mr. Liang Lei resigned as deputy general manager and board secretary on August 25, 2025, though he continues to serve as a director and member of the nomination committee. Mr. Zhang Zebo was appointed as the new board secretary, and Mr. Liu Yu was also appointed as general manager on September 23, 2025. The acquirer, Tiande Biotechnology, has affirmed its commitment to ensuring the independence of Xinjiang Western Animal Husbandry and avoiding competitive and non-compliant related party transactions, with no reported breaches.