Xinnong to develop novel biopesticide, microbial technology in cooperation with MoonBiotech

A strategic cooperation agreement was executed between Chinese agrochemical company Zhejiang Xinnong Chemical and MoonBiotech, on March 10, 2021, whereby Xinnong Chemical will work with MoonBiotech in various forms to jointly develop novel biopesticide and microbial technology which live up to the prospect of green agricultural development, to meet the agricultural production demand and improve the biological application to agricultural production, which will contribute to the sustainable development of Chinese agriculture.

1. Zhejiang Xinnong Chemical and MoonBiotech will cooperate in the following manner:

2. Developing a novel product and technology; improve and optimize the existing product and technology.

3. Engaging in market promotion of the product and technology which are already launched in the market, such that industry applications can be performed rapidly.

Hold regular information exchanges on industry development, marketing innovation and industry regulation; exchange and promote new strategies and business opportunities for both sides, and explore areas of further cooperation deemed as necessary by both parties.

On the same day, Xinnong Chemical Sales, Xinnong Chemical’s marketing subsidiary, entered into a product cooperation agreement with MoonBiotech. Under the agreement, MoonBiotech’s advantage of functional microbes and Xinnong Chemical’s marketing and technology promotion advantages will be fully utilized, to facilitate the launch of the Zinc thiazole + microbial product portfolio to the benefit of both parties.

The agreements mentioned above will ensure that they work to the respective advantage of both parties in product, R&D, distribution and technology promotion, which will facilitate a win-win result for everyone. The cooperation will allow for full use of the fungicide’s market advantage to promote the company's business development further and enhance its core competitiveness to the best interests of all shareholders on a long-term basis.