Yuan Longping high-tech agriculture adjusts impairment, welcomes investors

Yuan Longping High-Tech Agriculture will book RMB 181.97 million in asset impairment provisions for the first nine months of 2025, which will reduce total profit by the same amount. This includes credit impairment losses of RMB -12.65 million and asset impairment losses of RMB 194.62 million, mainly impacting inventory (RMB 201.54 million), and fixed assets (RMB 0.23 million). The impairment primarily stems from reduced recoverable amounts of inventory and fixed assets, aligning with accounting standards.

Concurrently, the company is advancing its strategic investment plan for Beijing Lifelong Seed. Agricultural Bank of China Financial Asset Investment Co., Ltd. has now committed to a RMB 200 million follow-on investment, bringing the total capital injection to RMB 1000 million from five state-backed institutions. Yuan Longping High-Tech Agriculture will waive its pre-emptive rights to the additional capital, diluting its stake from 89.9376% to 87.7306% while retaining control.

The extraordinary general meeting approved the asset impairment, the election of non-independent directors, and the introduction of strategic investors for Beijing Lifelong Seed. This aims to bolster capital strength, reduce the debt-to-asset ratio, and enhance technological innovation within Beijing Lifelong Seed.