*ST Broad Sugar announced that the company responded to an inquiry letter on the sale of major assets on the Shenzhen Stock Exchange. The transaction involved the company transferring 99.90% of Yunou Logistics and 100% shares of Nantang Seed Industry to the supply chain company, a wholly-owned subsidiary of the Agricultural Investment Group. The total consideration was 488 million yuan, higher than the assessed value of 137 million yuan. The transaction is an internal restructuring of an enterprise funded by the same country. It has been approved by the board of directors of the Agricultural Investment Group, and complies with state-owned assets supervision requirements; the price above the assessed value is an arrangement where the controlling shareholder supports the listed company to focus on the main business and bailout integration, and is commercially reasonable. The remaining 0.1% of Yunou Logistics's shares were not transferred due to a very small share, historical formation, and in line with the requirements for the number of shareholders of the joint stock company. The supply chain company has already paid the first instalment of 146.4 million yuan. The remaining amount is to be raised through mergers and acquisitions loans. The Agricultural Investment Group provides no more than 488 million yuan in financial support. The capital does not come from listed companies and has the ability to pay.

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