Zhengzhou Qianweiyangchu Food Co., Ltd. announced a private placement to issue not more than 25,992,730 A shares for an aggregate gross proceeds of not more than CNY 590,000,000 on March 23, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved by the fifth meeting of the third board of directors of the company.