ShenZhen JinXinNong Feed CO., LTD. (SZSE:002548) signed an equity transfer agreement to acquire Shixing Unibit Ecological Technology Co., Ltd. from a group of sellers for CNY 18 million on January 18, 2012. Within 5 working days after the payment conditions fulfillment, ShenZhen JinXinNong Feed will pay initial amount of CNY 9 million and within 10 working days after the change in registration of shares, ShenZhen JinXinNong Feed will pay the other half of the price, CNY 9 million. The group of sellers includes Chen Yaosheng, Li Jiaqi, Li Xiaoting, Shen Guangrong, Wang Chong, and Song Jiashou. Chen Yaosheng holds 55% stake, Li Jiaqi holds 10% stake, Li Xiaoting holds 10% stake, Shen Guangrong holds 10% stake, Wang Chong holds 10% stake, and Song Jiashou holds 5% stake.

ShenZhen JinXinNong Feed will use company's existing funds for the transaction. Shixing Unibit Ecological Technology Co., Ltd will become the ShenZhen JinXinNong Feed's wholly-owned subsidiary. As of December 31, 2011, Shixing Unibit Ecological Technology had total assets of CNY 7.65 million, owner's equity of CNY 7.31 million sales CNY 6.3 million and net profit of CNY 1.29 million. Beijing YingKe Law Firm acted as legal advisor to ShenZhen JinXinNong Feed CO., LTD.

ShenZhen JinXinNong Feed CO., LTD. (SZSE:002548) cancelled the acquisition of Shixing Unibit Ecological Technology Co., Ltd. from a group of sellers on January 18, 2013.