Tianbang Foods announced that Shanghai Shifen Weidao, a wholly-owned subsidiary of the company, plans to transfer 100% of its wholly-owned subsidiary Huai'an Shifen Weishi to Shanghai Xinzhenglong for 18 million yuan. In order to clear up internal debt transactions, Shanghai Shifen Weidao plans to increase Huai'an's capital by 304 million yuan. After the capital increase is completed, its registered capital will increase from 29 million yuan to 333 million yuan. The transaction is expected to result in an investment loss of approximately RMB 48.81 million.

Tianbang Foods announced that Shanghai Shifen Weidao, a wholly-owned subsidiary of the company, plans to transfer 100% of its wholly-owned subsidiary Huai'an Shifen Weishi to Shanghai Xinzhenglong for 18 million yuan. In order to clear up internal debt transactions, Shanghai Shifen Weidao plans to increase Huai'an's capital by 304 million yuan. After the capital increase is completed, its registered capital will increase from 29 million yuan to 333 million yuan. The transaction is expected to result in an investment loss of approximately RMB 48.81 million.