Jiahe Foods Industry Co., Ltd. announced a private placement to issue not more than 120,003,000 A shares for aggregate gross proceeds of not more than CNY 750,000,000 on May 19, 2023. 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 transaction will include participation from not more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the eighth meeting of the second board of directors. The transaction is still subject to approval from company's shareholders, Shenzhen Stock Exchange and the China Securities Regulatory Commission.