Summary: On 9 March, Yasheng Group and the Ganzhou District Government jointly signed a Strategic Cooperation Framework Agreement, teaming up to construct the corn seed demonstration base for bolstering corn seed cultivation with investment amounting to USD4.32 million (RMB30 million) . On 21 Feb., the wholly-owned subsidiary of Yasheng Group, Gansu Zhongken Jade, was expected to invest USD15.89million (RMB110.26 million) for the construction of a corn seed processing factory.

On 9 March, Gansu Yasheng Industrial (Group) Co., Ltd. (Yasheng Group, stock code: 600618) and the Ganzhou District Government jointly signed a Strategic Cooperation Framework Agreement of Boosting the High-Quality Development of the Corn Seed Industry in Ganzhou District, teaming up to construct the corn seed demonstration base for bolstering corn seed cultivation in the Zhangye National Corn Seed Industrial Park.

The wholly-owned subsidiary of Yasheng Group, Gansu Yasheng Seed Industry Group Co. Ltd., planned to invest totalling USD4.32 million (RMB30 million) for the construction of a modern seed industry enterprise integrating the breeding, reproduction and extension of corn seed, aiming to raise the seed breeding capability.

Founded in Dec. 1995, Yasheng Group, a national key leading seed enterprise for agricultural industrialization, went public on the Shanghai Stock Exchange in Aug. 1997. Meanwhile, the company has developed 22 crop varieties, of which six were certified as national geographic indication products, and obtained 9 organic conversion product certificates. In Q1–Q3 2022, the company's total revenue hit USD311.82 million (RMB2.16 billion), nudging up by 12.97% YoY.

Details of the new modern seed enterprise are as follows:

• Name: Yasheng Seed Industry Gaotai Co. Ltd. (name to be decided);
• Location: Gaotai County, Zhangye City, Gansu Province.

On 21 Feb., the wholly-owned subsidiary of Yasheng Group, Gansu Zhongken Jade Seed Industry Co. (Gansu Zhongken Jade), Ltd., was expected to invest USD15.89million (RMB110.26 million) for the construction of a corn seed processing factory, in seeking to step up the development of the seed industry;

Here is the information regarding the corn seed processing factory:

• Capacity: 12,000 t/a;
• Construction area: 123,327.12 m², including floor areas of 9,893 m² and building areas of 12,293 m²;
• Content:
• establishing the two drying lines for corn ear covering 2,000 ha of farmland, with capacity hitting 1,200 tonnes per batch;
• purchasing the complete corn seed processing equipment, including the corn ear collecting and picking section equipment with a capacity reaching 40 tonnes per hour, the corn ear drying section equipment with a capacity hitting 1,200 tonnes per batch, the corn threshing section equipment with a capacity reaching 50 tonnes per hour, the grain drying and storage equipment with capacity reaching 20 tonnes per hour, the fine processing section equipment with capacity hitting 10 tonnes per hour, seed testing equipment, supporting power facility, etc.

Details of Gansu Zhongken Jade are as follows:

• Establishment date: 19 Jan. 2022;
• Registered capital: USD4.32 million(RMB30 million);
• Location: Ganzhou District, Zhangye City, Gansu Province.