Joyvio Food Co.,Ltd announced that it has entered into a purchase agreement of minimum 34,840,000 A shares and maximum 52,260,000 A shares at a price of CNY 14.8 per share for minimum gross proceeds CNY 515,600,000 and maximum gross proceeds of CNY 773,448,000 on April 13, 2022. The transaction will include participation from returning investor Joyvio Group Co., Ltd. The shares cannot be transferred within 36 months from the issuance closing date. Post the closing of the transaction, the investor's holding will change from 46.08% to 55.06-58.52%.

The transaction was approved in the 16th Extraordinary Meeting of the Company's 4th Directorate and the 14th Extraordinary Meeting of the 4th Supervisory Board and is subject to the approvals of the company's shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.