Jinzi Ham Co.,Ltd. announced a private placement of not more than 293,493,984 shares A shares at an issue price not less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds of CNY 1,050,000,000 on October 13, 2022. The transaction will include participation from not more than 35, including Ren Guilong, who will subscribe to 10-50% of the issuance; the other investors can subscribe to a maximum of 100,000,000 shares. The shares Ren Guilong subscribes to cannot be transferred within 18 months from the issuance closing date.

The shares the other investors subscribe to cannot be transferred within 6 months from the issuance closing date. This has been approved in the 9th and 11th Meetings of the Company's 6th Directorate and the 4th Extraordinary Shareholders Meeting and is subject to the approvals of the Shenzhen Stock Exchange and the China Securities Regulatory Commission.