Hosah Foods Co., Ltd. announced that it has entered into capital increase agreement for proceeds CNY 115 million on April 7, 2022. The transaction will include participation from Grand Industrial Holding Co., Ltd. After the capital increase is completed, the investor will own 80% of the equity of the company. The transaction has been approved in fifth meeting of the tenth board of directors in 2022.

Thie transaction needs to be submitted to the company's general meeting of shareholders for deliberation, and needs to go through the industrial and commercial change procedures at the market supervision and management department.