Huifeng Bio Agriculture to acquire 81.41% stakes in China’s pesticide e-commerce platform

Date:09-01-2021

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On August 25, Huifeng Bio Agriculture announced that the company would spend RMB 135 million on acquisition of 81.41% stakes in Nongyi E-commerce (Beijing) Co., Ltd, as being held by Yancheng Nongyi Investment Partnership.

The Nongyi E-commerce platform www.16899.com is a professional e-commerce platform that serves retailers of agricultural materials and large growers. Through its Internet platform, products and services can directly reach end-users. This acquisition will enable Huifeng Bio Agriculture to build a closed network for agricultural materials to enter the countryside and agricultural products to reach the city.

Huifeng Bio Agriculture is committed to providing end-users with package solutions that encompass environment-friendly products of high efficiency, low toxicity, micro toxicity and low residue. In addition to the pesticide business sector, Huifeng Bio Agriculture is striving to develop its bio agricultural material business sector, having built a first-class biological fermentation laboratory and a pilot plant which have already started operations. The quality of the main technicals and formulations have appeared in leading positions in China while having reached internationally advanced levels, which is well backed up by the company’s industrial chain advantage covering synthesis of technical and processing of formulations. 

On the same day, Huifeng Bio Agriculture also released the company’s semi-annual report. In the first half of 2021, the company achieved a business income of Yuan721 million, down 6.42% year on year, and the net profit attributable to shareholders of Yuan545 million, up 1228.03% year on year.