According to the announcement from HAID GROUP (002311.SZ), the company plans to spin off its controlling subsidiary HAID Holdings for a listing on the main board of the Hong Kong Stock Exchange. Before the spin-off is implemented, HAID GROUP intends to restructure the equity of its overseas subsidiaries related to the production and operation of feed, seedlings, and animal health products under HAID Holdings, with the relevant restructuring work currently in progress. After the spin-off is completed, the equity structure of HAID GROUP will not undergo significant changes, and it will maintain absolute control over HAID Holdings in the long term, committing to hold no less than 75% of the equity in HAID Holdings for five years from the date of its listing on the Stock Exchange. The entity to be spun off, HAID Holdings, will focus on independently operating feed, seedlings, and animal health businesses in three regions: Asia (excluding East Asia), Africa, and Latin America