China Agricultural Products Exchange (00149.HK) and Wang On Group (01222.HK) jointly announced that on May 25, 2024, the seller, Qiaoyu Limited (an indirect wholly-owned subsidiary of China Agricultural Products), the buyer, Huai'an Qingjiangpu Rongfeng Agriculture Development Co., Ltd., the target company Huai'an Hongjin Agricultural and Sideline Products Logistics Co., Ltd., and Hongjin Qingjiang have entered into a sales agreement. Accordingly, the seller conditionally agrees to sell and the buyer conditionally agrees to purchase the target company. The initial consideration for the sale and purchase of the target company is approximately RMB 28.9 million (subject to adjustment). As part of the transaction under the sales agreement, the buyer shall also provide funds to repay the loan of China Agricultural Products for the target company, which is approximately RMB 140 million as of the joint announcement date. Hong An Group and China Agricultural Products Group will no longer have any equity interest in the target company.