September 4, 2012

Shanghai Maling Aquarius Co., Ltd announces plans to buy a 60% equity in Jiangsu Sushi Meat Food Co., Ltd. and a 60% equity in Jiangsu Huai'an Sushi Meat Food Co., Ltd., under umbrella of Jiangsu Food Group.

After completing the transfer, Shanghai Maling Aquarius and Jiangsu Food Group will add capital in Sushi Meat Food in accordance with their holdings of 60% and 40% in the target company. Jiangsu Food Group will inject land in Nanjing, Wuxi, Yancheng and Wuhu and related assets with an assessed value of CNY130.17 million (US$21 million) into the target company. Shanghai Maling Aquarius will add CNY195.26 million (US$31 million) in cash.

Sushi Meat Food is mainly engaged in sales and management of meat products of Jiangsu Food Group. Huai'an Sushi Meat has three slaughter lines with a handling capacity being 1.2 million pigs annually.