Lanzhou Zhuangyuan Pasture closes special accounts after reallocating surplus funds

Lanzhou Zhuangyuan Pasture Co., Ltd. announced the successful completion of the cancellation of its special accounts for raised funds. This follows a resolution passed at the company’s first extraordinary general meeting in September 2025, which approved the conclusion of the "Jinchuan District 10,000-Head Dairy Cattle Breeding Circular Industrial Park" project and the permanent allocation of surplus raised funds to supplement working capital.

The company's initial non-public offering of A-shares, approved in 2020, raised a total of CNY 377,540,000.00. After deducting issuance expenses of CNY 8,661,200.00, the net raised funds amounted to CNY 368,878,800.00. The capital was verified by Daxin Certified Public Accountants (Special General Partnership) in November 2020.

As of the announcement date, Lanzhou Zhuangyuan Pasture transferred all surplus raised funds, including interest income, totaling CNY 125,471,248.97, into its own capital account for permanent working capital supplementation. Consequently, the company processed the cancellation of the corresponding special accounts for raised funds, resulting in the termination of the tripartite supervision agreements with Huashu Securities Co., Ltd. and the commercial banks involved. Two accounts with Lanzhou Bank Xinglong Branch and China CITIC Bank Lanzhou Branch were previously closed, and one remaining account with Lanzhou Bank Xinglong Branch has now been cancelled.