Gelonghui October 14th | Tianyu Bioscience (603717.SH) announced that the company plans to sign an 'Equity Transfer Agreement' with the related party Tianyu Yuan, to purchase 22.50% of the equity of its holding subsidiary Tianqian Food. To ensure the fairness, impartiality, and reasonableness of the transaction pricing, the company has hired the joint United Land and Real Estate Asset Appraisal Co., Ltd. (hereinafter referred to as 'United Harmony'), which has qualifications for securities and futures related assessment business, to evaluate the value of the target company's shareholders' equity. According to the 'Asset Appraisal Report on the Valuation of the Entire Equity Value of Tianyu Bioscience Co., Ltd.'s Proposed Equity Acquisition of Tianqian Food Co., Ltd.' issued by United Harmony (United Harmony Review No. 6222), the total transaction amount for this transaction is determined to be 58 million yuan through negotiation based on the asset appraisal results. After the completion of this transaction, the company's shareholding ratio in Tianqian Food will increase from 67.50% to 90.00%, and the scope of consolidated financial statements will not change due to this equity acquisition.
This transaction is based on the company's strategic transformation. The main business has developed into the ecological agriculture and animal husbandry food industry. The listed company's acquisition of the minority equity indirectly held by the controlling shareholder in the target company is beneficial for enhancing the independence of the listed company in the ecological agriculture and animal husbandry food business sector, improving the management decision efficiency of the controlling subsidiary Tianqian Food, promoting the rapid development of hog farming business, enhancing the overall quality of the listed company's development, and creating more value for the company and all shareholders.
