HaiXin Foods Co.,Ltd announced a private placement of not more than 75,000,000 A shares for gross proceeds of up to not more than CNY 520,000,000 on October 20, 2022. The transaction will include participation from 35 special investors. The securities issued will have a lock-up period of 6 months.

The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. The transaction has been approved at the 24th meeting of the 6th directorate of the company, and is subject to the approval of the company's shareholders meeting, and the China Securities Regulatory Commission.