Hainan Shennong Technology sells stake in Hainan Bolian Biology

Hainan Shennong Technology announced that its Seventh Board of Directors approved the public listing and transfer of a 3.8% equity stake in its associate, Hainan Bolian Biology Co., Ltd. The transaction, valued at 31,982,692.40 yuan, was executed through the Hainan Property Rights Exchange platform. The buyer is Beihui Shibadu (Hainan) Network Technology Co., Ltd., a limited liability company with a registered capital of 5 million yuan.

The sale is based on an appraisal report by Jiangsu Huaxin Asset Appraisal Co., Ltd., which valued Hainan Bolian Biology’s total shareholder equity at 841,649,800 yuan. The transaction will be settled in installments, with an initial payment of 20% (6,396,538.48 yuan) within five working days of the contract's effective date, and the remaining 80% (25,586,153.92 yuan) within one year.

Following this divestment, Hainan Shennong Technology will retain a 16.2155% ownership in Hainan Bolian Biology. This transaction is expected to enhance the company's financial strength and risk resilience, with estimated recovered funds of approximately 31,982,700 yuan. The proceeds from the sale will be used to supplement the company's working capital.