COFCO Excel Joy (Tianjin) Co., Ltd entered into the absorption and merger agreement to acquire Tianjin COFCO Excel Joy Lingang Storage Co., Ltd. from China Agri-Industries Holdings Limited (SEHK:606) on August 11, 2014. After the completion of the transaction, Tianjin COFCO Excel Joy Lingang Storage will be merged into COFCO Excel Joy and will take up its business and staff. Upon completion of the absorption and merger agreement, the shareholding in COFCO Excel Joy held indirectly by China Agri-Industries Holdings Limited will increase from 75.83% to approximately 75.94%. COFCO Excel Joy will continue to be a subsidiary of China Agri-Industries Holdings Limited. Upon completion of the absorption and merger agreement Tianjin COFCO Excel Joy Lingang Storage will be dissolved. As of December 31, 2013, Tianjin COFCO Excel Joy Lingang Storage reported the audited net asset value of CNY 240.09 million, audited net profit before and after tax of CNY 2.37 million each.

COFCO Excel Joy (Tianjin) Co., Ltd completed the acquisition of Tianjin COFCO Excel Joy Lingang Storage Co., Ltd. from China Agri-Industries Holdings Limited (SEHK:606) on January 24, 2015.