Yimutian (NASDAQ:YMT) announced Friday that it has cleared a critical regulatory milestone in its pursuit of Ningbo Xunxi Technology.
A comprehensive due diligence report from Global Law Offices found no legal or financial impediments to the deal, while Dongshen Certified Public Accountants completed the necessary financial audits.
The acquisition, first unveiled in November 2025, represents a fundamental pivot for the Beijing-based agricultural giant.
By absorbing Xunxi, Yimutian intends to transition from a pure-play B2B agricultural platform into a "B2B2C" full-industry-chain model.
This strategy aims to bridge the gap between upstream agricultural production and the end consumer, utilizing Xunxi’s established e-commerce infrastructure and digital supply chain expertise.
Central to this integration is a leadership shuffle.
Lei Chen, the co-founder of Xunxi Technology and former president of Alibaba’s Xianyu business, is slated to join Yimutian as Vice President and General Manager of Retail.
Chen’s background in building platforms like Juhuasuan and Taobao Live is expected to accelerate Yimutian’s expansion into C-end consumer goods and corporate bulk purchasing.
Xunxi Technology currently manages over 250,000 SKUs and serves approximately two million members, providing digital procurement and marketing services to over 200 high-value channel clients, including the Bank of Ningbo and Hangzhou Customs.
The transaction, structured as a combination of cash and stock, is on track to close by March 2026.