BEIJING, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Yimutian Inc. (Nasdaq: YMT, hereinafter referred to as "Yimutian" or the “Company”), a leading agricultural digital service company in China, announced that it has reached a binding acquisition agreement with Ningbo Xunxi Technology Co., Ltd. (hereinafter referred to as “Xunxi Technology” or the “Target Company”). It plans to acquire 100% of Xunxi Technology’s equity through a combination of cash and stock, with the transaction consideration to be announced later. Upon the completion of this acquisition, it will help optimize the Company's strategic layout in B2C businesses, enhance its services such as channel development and digital supply chain management, and achieve the construction of an integrated industrial chain ecosystem from “B2B” to “B2B2C”.

The transaction is expected to be completed in the first quarter of 2026, subject to the satisfaction of customary closing conditions including regulatory approvals. After the closing of the acquisition, it is anticipated to have a significantly positive impact on the Company's revenue and earnings per share in the first full fiscal year after the Company’s IPO.

Founded in Ningbo, China, Xunxi Technology is a technology-driven comprehensive e-commerce operation service provider, co-founded by Qunhua Wan, a former senior executive of NetEase, and Lei Chen, a former senior executive of Alibaba and ex-president of Xianyu business. Meanwhile, Lei Chen, co-founder of Xunxi Technology, will join Yimutian Inc. as Vice President and General Manager of Retail Business. With over 20 years of operational experience in the e-commerce industry, Lei Chen joined Alibaba in 2001. He initiated the establishment of Juhuasuan, Taojinbi, and Taobao Live Streaming, and served as the first president of Xianyu. His industry insights and practical experience will provide crucial support for the rapid expansion of Yimutian’s B2C businesses.

As China’s largest digital service enterprise for agricultural product B2B transactions, Yimutian covers the entire industrial chain from agricultural production to bulk circulation, forming a sophisticated agricultural Industry internet service model. Xunxi Technology focuses on technology-driven channel e-commerce operations, providing core services such as corporate bulk purchasing, employee benefits, and marketing procurement for financial institutions as well as various enterprises and public institutions. It boasts distinct advantages in comprehensive supply chain resources, capabilities in developing various mall platforms, and expertise in integrated operation services and marketing planning.

Currently, Xunxi Technology has partnered with more than 1,300 brands and built a comprehensive supply chain, offering over 250,000 SKUs of products. It serves nearly 200 channel clients, including Bank of Ningbo, Hangzhou Customs, and Jiangnan University, covering high-value scenarios across multiple sectors such as finance, government services, and education, with a member base exceeding two million. Its strategic cooperation project with the Headquarters of Bank of Ningbo — the “Better Life Mall” tailored for the bank’s members — stands as a benchmark project in 2025. Within the first month of its launch, the mall recorded over 40,000 transactions with a total turnover exceeding US$1.4 million. The core corporate bulk purchasing business of the “Better Life B2B Welfare Mall” is expected to achieve a turnover of more than US$49 million in 2025.

Following the acquisition, Yimutian Inc. will deeply integrate Xunxi Technology’s core capabilities in full-category supply chain management, channel client development, and C-end consumer goods supply. This will enable the diversified expansion of its online business from a B2B platform to a “B2B2C” ecosystem, covering the entire chain from upstream agricultural cultivation and midstream circulation to downstream end consumption. The move will further diversify Yimutian’s revenue structure and consolidate its leading position in China’s agricultural digital economy sector.

Jinhong Deng, chief executive officer of Yimutian, commented that: “The integration of Xunxi Technology’s accumulated supply chain resources and channel advantages with Yimutian’s digital agricultural infrastructure will continuously create long-term value for shareholders. It will unlock more market opportunities in agricultural product distribution, corporate bulk purchasing, and digital marketing services, propelling Yimutian’s agricultural industrial internet towards a more efficient, comprehensive, and diversified development path.”

About Yimutian Inc.

Founded in 2011 and headquartered in Beijing, Yimutian Inc is a leading agricultural industrial internet enterprise in China, dedicated to driving the transformation and development of the agricultural industry through digital technology. Starting with the establishment of a digital B2B production and sales service platform for agricultural products, the Company has evolved into a comprehensive digital group covering the entire agricultural industrial chain, including cultivation, wholesale, and circulation. Its business portfolio includes the Yimutian APP digital platform, Dounniu Intelligent Consignment Service, Wozhongtian Digital Large-scale Cultivation Base, Wolai Cai Origin Sourcing Service, and regional industrial development services.

For more information about Yimutian, please visit: https://ir.ymt.com/.

Introduction to Xunxi Technology’s Management Team

Qunhua Wan

Founder of Xunxi Technology. He holds a bachelor's degree in Business Administration and an EMBA from Xiamen University. He joined NetEase in 2014 and served as Chairman of Hangzhou NetEase Impression Technology Co., Ltd., where he took full charge of Xiupin, an e-commerce platform. He built the team of over 300 professionals and integrated upstream and downstream supply chain resources spanning categories such as maternal and infant products, beauty and personal care, food and health products, home digital goods, and apparel and footwear, achieving an annual sales volume of over US$ 280 million. Since 2017, he has been serving as Chairman of Hangzhou Lanxi Information Technology Co., Ltd., where he developed the Premium Selection and Procurement System. He has established in-depth cooperative relationships with NetEase, Alipay, Bank of Ningbo, Industrial and Commercial Bank of China, China Construction Bank, and various city commercial banks, providing them with integrated services including technology, operation, and supply chain support.

Lei Chen

Co-founder of Xunxi Technology. He possesses outstanding strategic acumen and operational leadership, with extensive experience in China’s e-commerce and internet sectors. He joined Alibaba Group in 2001 and held positions in multiple business units including Alibaba B2B, Alibaba Software, and Taobao. He took the lead in launching products such as Juhuasuan and Taojinbi, and served as the founder and first person in charge of Taobao’s content segment and Taobao Live Streaming. He also previously served as President of Xianyu. After leaving Alibaba in 2020, he has continued his entrepreneurial journey in the e-commerce, live streaming, and supply chain fields.

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