Modern Farming (01117.HK) announced that it intends to acquire a 75% stake in Aiyangniu Technology for a total consideration of RMB 288 million. Aiyangniu Technology is mainly engaged in animal husbandry e-commerce platform, animal husbandry service cloud platform, operation of animal husbandry service industry, sales of feed, additives and veterinary drugs and agricultural and animal products transaction consulting. Modern Farming believes that the acquisition of Aiyangniu Technology can further leverage the group’s industrial chain synergy advantages as a leading dairy enterprise, and provide upstream and downstream services such as digital technology, supply chain finance, and breeding technology through an ecological sharing platform. The Aiyangniu platform operated by Aiyangniu Technology integrates resources from more than 1,000 suppliers for leading market players in the dairy farming industry in China, which can reduce the purchase price of related pasture materials through centralized procurement.
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