Lindian County Muyuan Meat Food Co., Ltd announced a private placement of common shares for gross proceeds of CNY 490,000,000 on September 17, 2021. The transaction will include participation from returning investor Muyuan Foods Co., Ltd. to retain its 100% stake in the company. Out of the total proceeds, CNY 250,000,000 will be added to the registered capital of the company and post the transaction, the registered capital of the company will increase from CNY 100,000,000 to CNY 350,000,000. The transaction has been approved in the 43rd Meeting of the investor's 3rd Directorate.