Jiangsu Agricultural Reclamation Malting Co., Ltd. announced that it will receive CNY 254,417,300 in an equity round of funding on April 13, 2022. The transaction included participation from new investor Jiangsu Provincial Agricultural Reclamation and Development Co.,Ltd. The transaction has been approved at the second meeting of the fourth session of the board of directors and supervisory committee of Jiangsu Provincial Agricultural Reclamation and Development Co.,Ltd. The transactions still need to be submitted to the company's 2021 annual general meeting for consideration. Post the closing, Jiangsu Provincial Agricultural Reclamation and Development Co.,Ltd. will acquire 100% stake in the company.