Company announcement: 1. Sichuan Shenyu Agricultural Development Co., Ltd., the former legal shareholder of the company, intends to change the company name, company type, registered address, business scope and other industrial and commercial information. After the change, the enterprise name is Shannan Shanyu Sannong Development Partnership (Limited Partnership), and the registered address is Tibet. Shannan Shanyu of Tibet will inherit 39.52 million shares of Jifeng agricultural machinery held by Sichuan Shenyu (accounting for 11.06% of the company's total share capital) according to law.

2. Shannan Shenyu, a shareholder of the company, plans to reduce the number of shares in the company by no more than 21 million shares from March 12 to September 11, in the form of bulk trading, for the purpose of meeting the company's cash flow needs.

Profit forecast: reduce the company's EPS for 12-14 years to 0.04,0.12 and 0.19 yuan. It is expected that the company will step up its efforts in the turnround of construction machinery business and cost control in 13 years, and its performance in 13 years is expected to achieve high growth. Maintain the previous point of view: ① due to the impact of macroeconomic and strategic changes, 12 years will be a year of penance, 13 years of corporate performance is expected to achieve high growth; ② company's future growth into the king of China's agricultural machinery circulation trend will not change; ③ company is the theme of agricultural modernization, and urbanization theme of the excellent investment target, the company's stock price valuation is expensive, and facing shareholder reduction pressure, it is recommended to avoid temporarily.

Risk hint: agricultural machinery policy adjustment risk, business risk in the process of expansion, capital bottleneck