AUSTASIA GROUP's Joint Venture Consortium to Acquire Full Stake in Inner Mongolia Breeding Firm for RMB20 Million

Stock News03-31

AUSTASIA GROUP has announced that on March 26, 2026, its joint venture consortium entered into an agreement with the seller, Chifeng Qiangben Agriculture and Animal Husbandry Investment Co., Ltd., to acquire 100% equity of the target company, Inner Mongolia Chifeng Boyuan Breeding Cattle Co., Ltd., for a consideration of RMB20 million. The consortium completed the payment of RMB20 million to the seller on March 30, 2026.

The joint venture consortium was formed on February 27, 2026, by Joint Venture Company A, AUSTASIA GLOBAL (SHANGHAI) LIVESTOCK CO., LTD., and Joint Venture Company B, INNER MONGOLIA ZHONGAO AGRICULTURAL INVESTMENT CO., LTD. It submitted a bid on March 12, 2026, to acquire 100% equity of the target company, with Joint Venture Company A acquiring 60% and Joint Venture Company B acquiring the remaining 40%. The consortium received a notice of successful bid on March 19, 2026.

Inner Mongolia Chifeng Boyuan Breeding Cattle Co., Ltd. is primarily engaged in livestock and poultry breeding operations in China. The acquisition of the target company is of strategic importance to the group. The board of directors believes the transaction will enable the group to ensure the continuity, quality, and safety of frozen semen procurement for both its raw milk and beef cattle business segments. Additionally, leveraging existing genetic improvement programs, the group expects to achieve synergies that will enhance herd genetics and expand business development to include the sale of frozen semen and in vitro fertilized embryos to external customers.

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