Longping High-Tech announced that it has deducted a performance compensation amount of 9.3065 million yuan from the remaining equity transfer payment due, and the performance commitment parties have fulfilled their compensation obligations for 2023 to 2025. The company acquired a 51% stake in Yunnan Xuansheng Seed Industry Co., Ltd. in August 2023. The performance commitment parties pledged that Yunnan Xuansheng’s non-recurring net profit for 2023, 2024, and 2025 would be no less than 30.0398 million yuan, 33.0191 million yuan, and 36.0245 million yuan, respectively, with a three-year cumulative total of no less than 99.0834 million yuan. Yunnan Xuansheng achieved a cumulative non-recurring net profit of 96.6248 million yuan over the three years, fulfilling 97.52% of the commitment, triggering cash compensation. In addition, if the non-recurring net profit in either 2026 or 2027 falls below the previous year’s figure or below 36.0245 million yuan, the performance commitment parties must continue to make up the shortfall.
Yuan Longping High-tech Agriculture Co LtdPerformance compensation deduction of 9.3065 million yuan due to Yunnan Xuansheng missing profit targets.