Xinjiang Tianrun Dairy Co., Ltd. announced a private placement of not more than 80,579,801 shares for gross proceeds of not more than CNY 567,500,000 on March 26, 2021. The transaction included participation from more than 35 investors include Xinjiang Production and Construction Corps 12th Division State-Owned Assets Management Co., Ltd for 31.10% stake. The transaction was approved by board of directors in the 10th Meeting 7th meeting of the 7th supervisory board. The company has entered in to purchase agreement with Xinjiang Production and Construction Corps 12th Division State-Owned Assets Management Co., Ltd.as part of the transaction. The securities issued are subjected to 18 months hold period for Xinjiang Production and Construction Corps 12th Division State-Owned Assets Management Co., Ltd, and 6 months for other investors. The issue price shall not less than 80% of the average price in the 20 trading days before the pricing reference date. The company will not issue more 30% of total share capital. The transaction is subjected to approval of Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.