Milkground enhances raised funds management with new agreements

Shanghai Milkground Food Tech (SSE:600882) announced the signing of tripartite supervision agreements for newly established special accounts dedicated to managing funds raised through its non-public A-share issuance. The agreements, involving the company, its designated banks, and Orient Securities, aim to standardize the management of raised funds and protect investor interests, in compliance with regulatory requirements. The move follows the company's 2021 non-public offering of 100,976,102 A shares, raising gross proceeds of CNY 2,999,999,990.42. These funds are earmarked for strategic projects including the Shanghai Specialty Cheese Intelligent Production and Processing Project and the Changchun Specialty Dairy Comprehensive Processing Base Project. Milkground is actively managing its cash reserves, including reinvesting redeemed funds back into suitable short term instruments, and recently redeemed CNY 273 million in cash management products and earned CNY 1,535,625 in investment income.