Hanma Investment Group Co., Ltd. (HMI Group), Kunming Agricultural Development & Investment Co., Ltd. (Kunming ADI) and Yunnan Agricultural University signed a strategic cooperation agreement on Sep.5th,2019. HMI Group and Kunming ADI cooperation by capital aim to develop the whole industry chain of industrial hemp depending on R&D advantages from Yunnan Agricultural University. Peter Tan (Chairman of HMI Group) attended the signing ceremony. The cooperation covers from breeding, planting, extracting, progressing, developing and marketing of industrial hemp.
The three parties will establish a joint working mechanism and coordination to guide and promote cooperation among the three parties. It will coordinate to solve problems and disputes encountered in the cooperation so as to promote the smooth implementation of the strategic cooperation framework agreement. According to the contents of this cooperation framework agreement, subsidiaries of HMI Group and Kunming ADI will set up a joint venture whose capital structure will be depended by the two parties.
At present, HMI Group has established industrial hemp breeding bases in Yunnan and Heilongjiang for medical use and fiber use. The hemp variety “Huoma No.1”for fiber use has achieved crop variety registration certificate of Heilongjiang province, with more than 100 thousand mu (16474 acres) planting area. The medical hemp (high CBD) variety “Hanma No.1” has already entered the propagation stage.
The cooperation witnessed the industrial revolution of biomass to replace minerals.China industrial hemp will enter a high-speed development period with issued the management policies of industrial hemp in Yunnan and Heilongjiang. HMI Group will inject new vitality into the development of industrial hemp industry and achieve the globalization of Chinese enterprises.
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