On 4 November 2025, a public disclosure form highlighted a possible mandatory general offer for China Shengmu Organic Milk Limited. The information shows dealings in the company's shares by CITIC Securities Company Limited, classified as a Class (5) associate connected with the offeror.

According to the disclosure, on 3 November 2025, CITIC Securities Company Limited varied derivatives linked to a total of 1,000,000 reference securities twice, each at a reference price of US$0.3500 with a total amount paid of US$350,000.00. The transactions resulted in a balance of 0 and were conducted for its own account.