Xin Jun entered into an agreement to acquire a 28.59% stake in Shandong Hongyu Agricultural Machinery Co., Ltd. (SZSE:002890) from Yu Xiaoqing for approximately CNY 560 million on September 13, 2021. Xin Jun will purchase 26,683,265 shares at CNY 21 per share. The stake will be acquire in 3 phases. As of January 14, 2022, Xin Jun have completed the stake to 12.51%.

Xin Jun completed the acquisition of 28.59% stake in Shandong Hongyu Agricultural Machinery Co., Ltd. (SZSE:002890) from Yu Xiaoqing on April 11, 2023.