Anjoy Foods redirects funds to new bakery project

Anjoy Foods Group Co., Ltd. announced a strategic change in its non-public offering funds, redirecting 36.141m yuan from four existing projects to a new bakery initiative. This amount represents 6.41% of the total net proceeds of 5.634bn yuan. The original projects — Sichuan Anjoy technical upgrade, Liaoning Anjoy technical upgrade, Taizhou Anjoy technical upgrade, and Henan Phase III quick-frozen food expansion — have experienced delays and will now be completed using the company's own funds.

The reallocated funds will be used for the "Ding Yifeng Foods (Taicang) Co., Ltd. new baked bread project," with a total investment of 41m yuan. This new project aims to establish production lines for toast, bagels, bread, pizza, and Western-style pastries, with a full-load capacity of 67.42 tons per day. This shift reflects Anjoy Foods' response to changing macroeconomic conditions and consumer demand for healthier, more convenient, and diverse food categories.

The proposal has been approved by the company's Fifth Board of Directors and the Fifth Board of Supervisors, both held on September 30, 2025, and will be submitted to shareholders for approval. CITIC Securities, the sponsor, has reviewed the change and found no objections.