Shenzhen Jinxinnong Feed Co.,Ltd. (SZSE:002548) agreed to acquire 47.7% stake in Wuhan Tianzhong Animal Husbandry Co., Ltd. from a group of sellers for approximately CNY 330 million on November 21, 2016. The consideration is payable in cash. Shenzhen Jinxinnong Feed Co.,Ltd. already in process for the acquisition of 32.28% stake in Wuhan Tianzhong Animal Husbandry Co. from Hubei Tianzhong Investment Management Co., Ltd. After the completion of both transactions, Shenzhen Jinxinnong Feed Co.,Ltd. will own 79.98% in Wuhan Tianzhong Animal Husbandry Co. For the year ended December 31, 2015, Wuhan Tianzhong Animal Husbandry Co., Ltd. reported total assets of CNY 424.8 million, revenues of CNY 335 million, operating profit of CNY 1.3 million, net income of CNY 4.5 million and net assets of CNY 263.7 million. The Board of Directors of Shenzhen Jinxinnong Technology Co., Ltd. approved the deal and it also requires approval from its shareholders. Shenzhen Jinxinnong Feed Co.,Ltd. (SZSE:002548) completed the acquisition of 47.7% more stake in Wuhan Tianzhong Animal Husbandry Co., Ltd. on January 3, 2017.