Chinese seed firm Yuan Longping High-Tech Agriculture is selling a 34% stake in its wholly-owned subsidiary Derit Seeds to Mitsui & Co.—one of Japan’s largest general trading firms—for 489.6 million yuan ($67.5 million), according to an exchange filing.
Post-financing, Shenzhen-listed Yuan Longping’s stake in Derit Seeds will reduce to 66% stake, per the filing.
Set up in June 2003, Derit Seeds engages in the processing, packaging, wholesale, and retail of vegetable seeds, with a specialisation in cucumber varieties. The Tianjin-based firm specialises in the research and development of different cucumbers, and Mitsui & Co.’s investment will help Yuan Longping expand to overseas markets, per the filing.
Derit Seeds recorded an unaudited loss of around 19.3 million yuan (around $2.7 million) in the first six months of 2024 after notching a profit of around 83 million yuan ($11.4 million) in 2023.
CHINA DEAL MONITOR
DealStreetAsia has also compiled a table listing all prominent venture capital transactions in Greater China from March 17-23, 2025.
