On July 14, Zhongnong Lihua announced that the company planned to acquire 18% equity of Zhongnong Group Seed Industry Holdings Co., Ltd. (referred to as "Zhongnong Seed Industry") held by controlling shareholder Zhongnong Group for 27 million yuan.
The seed industry is a national strategic industry and is expected to usher in high-quality development . Seeds are the "chips" of agricultural production. As my country's strategic and core basic industry, the seed industry is the foundation for the healthy development of agriculture and has always been highly valued by the country. The
"seeds + pesticides" collaborative development model can promote Sino-Agricultural Lihua to achieve leap-forward development. Zhongnong Lihua has been engaged in the business of pesticide products. In recent years, its sales performance has grown rapidly. In order to maintain long-term and sustainable development momentum, it needs to continuously expand its business scope on the basis of focusing on its main business. Zhongnong Seed Industry has a good hardware foundation and scale advantages. Investing in Zhongnong Seed Industry can extend the industrial chain, create a business model of "seed + pesticide" collaborative development, improve crop health solutions, improve service levels for farmers, and help Zhongnong Seed Industry establish China has achieved leapfrog development.
It is now a good time for Zhongnong Lihua to get involved in the seed industry. Zhongnong Seed Industry is advancing the mixed ownership reform, and the current equity transfer price is at a low level, which is a good time for Zhongnong Lihua to intervene in the seed industry. In the future, Zhongnong Lihua will actively look for suitable resources and opportunities to continue to promote the company's long-term development strategy for its seed business.
Source: Company announcement
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