Ningxia Xiaoming Agriculture & Animal Husbandry Co., Ltd. announced a private placement of 2,500,000 shares at CNY 12 per share for gross proceeds of CNY 30,000,000 on March 14, 2016. The transaction will include participation from Beijing Dabeinong Technology Group Co.,Ltd. (SZSE:002385). On closing, the investor will hold 4.43% stake in the company. The current registered capital of the company is CNY 53,966,000. The transaction was approved at the 32nd session of the 3rd directorate meeting of the investor. The transaction is further subject to approval from the shareholders of the investor.

On March 30, 2016, the company announced that the transaction has been approved in the 1st extraordinary shareholders meeting of 2016 of Beijing Dabeinong Technology Group Co.,Ltd. (SZSE:002385).