Xinjiang Winka Food Industrial Park Co., Ltd announced a private placement of common shares for gross proceeds of CNY 40 million on June 8, 2021. The transaction will include participation from returning investor Xinjiang Winka Times Department Store Co.,Ltd. to retain 100% stake in the company. Post the transaction, registered capital will increase from CNY 10 million to CNY 50 million.

The transaction has been reviewed and approved at the 19th meeting of the fifth board of directors of the investor and does not need shareholders approval.