Company History

August 2021

On August 30, 2021, at the Company’s annual shareholder meeting for fiscal year 2020, a majority of the Company’s shareholders approved a proposal for the issuance of the Company’s common stock to ten non-US investors in a private placement. The purpose of the stock issuance was to raise funds for expanding the Company’s business into that of blockchain applications including cryptocurrency mining. At the meeting, the Company’s majority shareholder also approved the nomination of Mr. Jian Huang and Mr. Xiaolai Li, who have extensive knowledge and experience within the blockchain and cryptocurrency industries, to the Company’s Board of Directors.

June 2021

On June 2, 2021, the Company, through its wholly-owned subsidiary Jinong, discontinued the strategic acquisition agreements and the series of contractual agreements with the shareholders of Xindeguo, Xinyulei and Xiangrong. In return, the shareholders of Xindeguo, Xinyulei and Xiangrong agreed to pay cash with amount of RMB26,280,000  (approximately $4,068,144) to the Company.

November 2017

On November 30, 2017, the Company, through its wholly-owned subsidiary Jinong, discontinued the strategic acquisition agreements and the series of contractual agreements with the shareholders of Zhenbai. In return, the shareholders of Zhenbai agreed to tender the whole payment consideration in the SAA back to the Company with early termination penalties. The convertible notes paid to Zhenbai’s shareholders and the accrued interest have been forfeited.

January 2017

On January 1, 2017, the Company, through its wholly-owned subsidiary Jinong, entered into strategic acquisition agreements and a series of contractual agreements with the shareholders of the following two companies that are organized under the laws of the PRC and would be deemed as our VIEs: Sunwu County XiangrongAgricultural Materials Co., Ltd. and Anhui Fengnong Seed Co., Ltd.

June 2016

On June 30, 2016, the Company, through its wholly-owned subsidiary Jinong, entered into strategic acquisition agreements and a series of contractual agreements with the shareholders of the following six companies that are organized under the laws of the PRC and would be deemed as our VIEs: Shaanxi Lishijie Agrochemical Co., Ltd., SongyuanJinyangguangSannong Service Co., Ltd., Shenqiu County Zhenbai Agriculture Co., Ltd., Weinan City Linwei District Wangtian Agricultural Materials Co., Ltd., AksuXindeguo Agricultural Materials Co., Ltd., and Xinjiang Xinyulei Eco-agriculture Science and Technology Co., Ltd.