FIRST TRACTOR to Acquire 39% Stake in Heilongjiang Beidahuang Kenzheng Agricultural Machinery for RMB 19.79 Million

Stock News05-18 23:14

FIRST TRACTOR has announced that it has successfully won the bid to acquire a 39% equity stake in Heilongjiang Beidahuang Kenzheng Agricultural Machinery Equipment Co., Ltd. The final bidding price was set at RMB 19.7925 million. On May 18, 2026, the company entered into an equity transfer agreement with Intelligent Research Institute Company, under which the latter agreed to sell, and FIRST TRACTOR agreed to purchase, the aforementioned stake at the final bid price.

This equity investment is intended to deepen the cooperative relationship between FIRST TRACTOR and Heilongjiang Agriculture Company Limited. It aligns with national policy initiatives aimed at establishing leading zones for the research, development, manufacturing, promotion, and application of large, high-horsepower, intelligent, and high-end agricultural machinery. By leveraging the large-scale application scenarios for high-end intelligent agricultural machinery provided by Heilongjiang Agriculture Company Limited, FIRST TRACTOR aims to continuously optimize its core technological capabilities. This move is expected to accelerate the research, development, manufacturing, promotion, and application of the company's high-end product lines, thereby better serving and safeguarding national food security.

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