Winall Hi-tech Seed Co., Ltd. (SZSE:300087) signed an equity transfer agreement to acquire remaining 40% stake in Anhui Quanyin Seed Industry Technology Co., Ltd. from Jiang Sanqiao, Jin Yi and Chun Linfeng for approximately CNY 140 million on September 23, 2019. The consideration will be paid from Winall Hi-tech Seed's own fund. Post completion, Anhui Quanyin Seed Industry Technology will operate as a wholly-owned subsidiary of Winall Hi-tech Seed. As of December 31, 2018, Anhui Quanyin Seed Industry Technology reported total assets of CNY 165.44 million, total common equity of CNY 135.66 million, revenue of CNY 23.27 million, EBIT of CNY 23.27 million and net income of CNY 13.08 million. The transaction was reviewed and approved by the board of directors of Winall Hi-tech Seed on the ninth meeting of the fourth directorate held on September 23, 2019. Winall Hi-tech Seed Co., Ltd. (SZSE:300087) completed the acquisition of remaining 40% stake in Anhui Quanyin Seed Industry Technology Co., Ltd. from Jiang Sanqiao, Jin Yi and Chun Linfeng on January 1, 2020. Under the terms, 40% of equity transfer payment was paid within 10 working days after the signing of the Equity Transfer Agreement and the remaining three were promised in corresponding performance.