Shangshui Muyuan Farming Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 120,000,000 on January 23, 2017. The transaction will include participation from returning investor Muyuan Foods Co.,Ltd. (SZSE:002714) to retain its 100% stake in the company. The registered capital of the company will increase from CNY 60,000,000 to CNY 180,000,000. The transaction has been approved by the board of directors of the investor at its 2nd directorate’s 51st meeting. The transaction is subject to shareholders’ approval of the investor.