Zhenjiang Hengshun Liquor Industry Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 130,000,000 on June 14, 2023. The transaction will involve participation from existing investor, Jiangsu Hengshun Vinegar-Industry Co.,Ltd. to retain its 100% stake in the company. Post-closing of the transaction, the registered capital of the company will increase from CNY 30,000,000 to CNY 160,000,000.

The transaction has been approved by the 23rd session of the company’s 8th directorate of the investor.