On 4 March 2026, a disclosure was made under Rule 22 of the Hong Kong Code on Takeovers and Mergers regarding dealings in the shares of China Shengmu Organic Milk Limited (01432). The filing revealed that CITIC Securities International Capital Management Limited, a Class (5) associate connected with the Offeror, disclosed transactions conducted on 3 March 2026.

CITIC Securities International Capital Management Limited reported purchasing 333,000 shares of China Shengmu Organic Milk Limited for US$113,253.30 at a price of US$0.3401 per share. It also disclosed selling 333,000 shares for US$113,253.30 at prices ranging from US$0.3400 to US$0.3450. These transactions were described as the closing or unwinding of proprietary positions arising from unsolicited client-driven dealings.

CITIC Securities International Capital Management Limited confirmed the transactions were executed no later than the close of the morning trading session on the trading day following the originating client-driven dealing. It was further noted that the dealings were made for its own account and that CITIC Securities International Capital Management Limited is ultimately owned by CITIC Securities Company Limited.