Dahu Aquaculture Co.,Ltd announced a private placement of not more than 144,371,156 A shares for gross proceeds of CNY 530,000,000 on January 27, 2022. The transaction included participation from not more than 35 investors. The number of shares to be issued in this transaction does not exceed 30% of the total share capital of the company before this transaction.

The pricing base date of this offering is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The securities issued in the transaction subjected to 6 months hold period. The transaction was approved by board of directors of in its 18th meeting of the 8th board of directors, 8th meeting of the 8th Supervisory Committee of the company.

The transaction still subject to deliberation and approval at the company's general meeting of shareholders and approval from the China Securities Regulatory Commission.