Yunnan Shennong Agricultural Industry Group Co.,LTD. announced a private placement of not more than 150,000,000 A shares for gross proceeds of not more than CNY 1,149,971,400 on June 20, 2023. The issuance price of this of stocks shall not be lower than 80% of the average stock trading price of the 20 trading days before the pricing base date. The transaction will include participation from not more than 35 specific investors.

The transaction was approved in 13th meeting of the company’s 4th directorate and is subject to the approvals of the company’s shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission. The transaction was approved in the 11th Meeting of the 4th Supervisory Board. The shares cannot be transferred within 6 months from the issuance closing date.