Liaoning Denghai Seeds Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 3,000,000 on June 9, 2021. The transaction will include participation from returning investor ShanDongDenghai Seeds Co.,Ltd, individual investors Li Xiaohua and Xin Zhigang and would retain their stakes of 67%, 26%, and 7% respectively. The transaction has been approved by the shareholders of the company. The transaction still needs to be approved by the industrial and commercial administration department of the registered place of Denghai, Liaoning. After the board of directors deliberates and approves, it will apply to the above-mentioned approval authority for relevant procedures. As a result, company's registered capital will increase from CNY 12,000,000 to CNY 15,000,000.