Shenzhen Food Holdings announced that Shenzhen Food Group, a wholly-owned subsidiary of the company, plans to sign a “Property Rights Replacement Agreement” with the Shenzhen State-owned Assets Administration Commission and the Xili Subdistrict Office to replace the Pinghu Grain Depot with Shuguang Grain Depot. The replacement value of Pinghu Grain Depot is 586 million yuan, the Shuguang Grain Depot replacement value is 458 million yuan, and the value difference of 127 million yuan was covered by the company in cash. This transaction constitutes a related transaction, does not constitute a major asset restructuring, and still needs to be submitted to the company's shareholders' meeting for consideration. If this property rights exchange is implemented this year, it is estimated that profit before tax will be about 400 million yuan.

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