LONGDA: Abandon acquisition of Wucang Agricultural and Animal Husbandry equity

LONGDA announced that the company held the fifth meeting of the sixth board of directors on September 19, 2025, and approved the proposal to abandon the acquisition of equity in Wucang Agricultural and Animal Husbandry Group Co., Ltd. It agreed to abandon the acquisition of equity in Wucang Agricultural and Animal Husbandry Group Co., Ltd. held by its controlling shareholder, Lanrun Development Holdings Group Co., Ltd. As of June 30, 2025, Wucang Agricultural and Animal Husbandry had a net asset of 109 million yuan, and its net profit from January to June 2025 was 3.9741 million yuan. The reasons for the company's decision to abandon the acquisition include focusing on the main food business, the high debt ratio of Wucang Agricultural and Animal Husbandry, the uncertainty of the industry cycle, and the company's current financial situation not meeting the acquisition conditions