Jiangsu Lanfeng Bio-Chemical Co.,Ltd. (002513.SZ) has announced a plan to issue A-shares to specific targets, with total fundraising not exceeding RMB 300 million. After deducting issuance expenses, the proceeds will be entirely used to repay loans from financial institutions.

The subscribers for this private placement are Xuhe Capital and Anhui Ximing. The subscribers will fully subscribe to the shares in cash. Xuhe Capital is the controlling shareholder of Anhui Ximing, and Zheng Xu is the actual controller. This private placement constitutes a related-party transaction.