Sichuan Gevoto Biotechnology Co., Ltd. announced that it will issue 4,500,000 shares at an issue price of CNY 6 per share for proceeds of CNY 27,000,000 on March 14, 2022. The transaction will include participation from Hefei Fengle Seed Co., Ltd. The transaction has been approved by the 8th session of the investor's 6th directorate. The current registered capital of the company is CNY 12,363,600.

Out of the total investment, CNY 4,500,000 will be added as registered capital. The registered capital will increase from CNY 12,363,600 to CNY 16,863,600. After the completion of the transaction, the investor will own 35.58% stake in the company.

The transaction is expected to close within 10 days after the agreement takes effect.