Dongrui Food Group Co., Ltd. announced a private placement of 63,841,680 A shares for a gross proceeds of not more than CNY 1,033,000,000 on February 18, 2023. The transaction will include participation from no more than 35 specific investors including Dongguan Donghui Industrial Investment Co., Ltd. for CNY 10,000,000 and and the number of shares subscribed at the same time does not exceed 2% of the company's issued shares. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares to be issued shall have a hold period of 18 months from closing of the transaction. The shares subscribed by other investors are not transferable for 6 months from the closing date. The transaction has been approved by the 23rd meeting of the second board of directors, the 24th meeting of the second board of directors, the third meeting of the third board of directors.

The transaction is still subjected to approval from the Shenzhen Stock Exchange and China Securities Regulatory Commission to approve the registration.