Shenzhen Agricultural Products Group Co., Ltd. announced a private placement of 509,089,239 A shares at an issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date for the gross proceeds of not more than CNY 2,000,000,000 on November 20, 2023. The company has signed the Share Subscription Agreement with returning investor Shenzhen Agriculture and Food Investment Holding Group Co., Ltd for CNY 1,300,000,000 and not more than 35 investors. The transaction has been approved in the 8th Meeting of the 9th Directorate and the 6th Meeting of the 9th Supervisory Board.

At present, the investor holds 576,917,663 shares, 34% stake. The shares Shenzhen Agriculture and Food Investment Holding Group Co., Ltd. subscribes to cannot be transferred within 36 months and the other investors subscribe to cannot be transferred within 6 months from the issuance closing date. The transaction is subject to the approvals of the Company?s Shareholders, the state-owned assets supervision and administration department or state-funded enterprise, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.