Borrow Power international corn seed industry giant Chiaki Tech 120 million set up joint venture company

In cooperation with Chiaki Hi-Tech (000998), Vilmorin Kong 2¥q (hereinafter: VHK) changed one way.　　VHK decided to transfer its holdings of Chiaki high-tech holding shareholder Changsha New Daxin Agricultural Co., Ltd. 46.5% of the stake, while VHK and Chiaki will jointly invest 200 million yuan to set up a new joint venture to engage in the development of corn and other seed industry, of which Chiaki high tech investment 120 million yuan, holding 60%. VHK's actual control is the world's fourth-ranked integrated seed industry company, France Limagrain Group.　　Chiaki said the purpose of the joint venture was to make full use of the advantages of the French limagrain group to promote the development of the company's corn seed industries. The Chiaki Tech Bulletin said today January 31, the company received a big shareholder new Dah Mai notice, said its controlling shareholder Hunan New Daxin Co., Ltd. on January 27 with the two shareholder VHK signed an agreement on the transfer of shares, under the agreement, new Daxin shares will be VHK held by all the new dah-mai equity (46.5%).　　After the transfer of equity, the new Daxin shares will become the only shareholder of New Daxin, new dah-Mai's business nature will be changed from Sino-foreign joint ventures to domestic limited liability company.　　Chiaki Hi-Tech said that the transfer of the equity ownership of new Daxin shares has no impact on the ownership structure, its largest shareholder is still a natural person Wu Yue, the transfer of equity will not lead to the transfer of the actual control of the company. On the same day, Chiaki and VHK signed a framework agreement on joint ventures in China. According to the framework agreement, the two sides will jointly invest 200 million yuan to set up joint ventures to engage in the research, production and marketing of hybrid maize seed, wheat seed and oil crop seeds, of which the Chiaki Tech company invests 120 million yuan, the proportion of registered capital is 60%,VHK or vilmorin& The CIE group designated other entities to contribute 80 million yuan, accounting for the proportion of registered capital of 40%.　　In order to attract the outstanding seed industry research and development, the Chiaki Tech Center will transfer the JV Company's 5% Equity stake to the JV management after the JV company is established. The joint venture company will be able to use the Vilmorin&cie group's hybrid maize inbred lines in exclusivity. The Vilmorin&cie group will license the JV company to use its technology, and the future Vilmorin&cie group will transfer to the joint venture all its work in China, the cultivation of hybrid maize and the development of such hybrid maize, including the production of parent seeds The persons involved will also be transferred to the joint venture.　　The future Chiaki Tech will also transfer its corn assets and operations in Gansu to the JV company. According to the data, VHK's controlling shareholder is the vilmorin&cie of the pan-European Stock exchange of New York, and is engaged in the development, production and commercial operation of field crop seeds and vegetable varieties worldwide. Vilmorin&ciThe controlling shareholder of E is the French limagrain group, and is the fourth most comprehensive seed industry company in the world. Analysts believe that Chiaki's determination to enter the corn seed industry is unwavering, and the investment could be seen as a continuation of the Chiaki tech boom last year in the field of corn seed industry. At the beginning of last year, Chiaki Hi-tech and Shanxi tun Jade Seed Industry Technology Co., Ltd. signed the relevant agreement, but ultimately failed to reach cooperation; last April, Chiaki Tech hired Shahe, the company's managing director of the successful corn seed industry, before Liu was president of the China region of DuPont Pioneer Seed International Co., Ltd. In China, the successful promotion of the first Jade 335, the first Jade 335 is Denghai seed industry, Dunhuang seed industry in recent years, the main strength of high growth; In addition, Chiaki and Shanxi Limagrant Grain Research and Development Co., Ltd. signed the "Corn varieties, 16 authorized production and Operation Agreement", Chiaki Tech Center in the exclusive way to obtain "Li 16 "Production rights.