Jiangsu Yike Food Group Co.,Ltd entered into a share subscription agreement for issuance of not more than 39,556,962 A shares at a price of CNY 12.64 per share for gross proceeds of not more than CNY 500,000,000 on April 7, 2023. The transaction will include participation from returning investor, Jiangsu Yike Agriculture and Animal Husbandry Investment Co., Ltd. The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved at the 23rd meeting of the 7th directorate of the company. The transaction is still subject to approval from the company?s shareholders, Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

On August 24, 2023, the company announced that the application for the issuance of shares has been accepted by the Shenzhen Stock Exchange.