(Hong Kong, 16 July, 2020) Shandong Fengxiang Co., Ltd.^* (“Fengxiang” or the “Company”, together with its subsidiaries, the “Group”, stock code: 9977), one of the leading fully integrated white-feathered broiler meat exporters and producers in the PRC, was successfully listed and commenced dealings on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”) today, with a board lot of 1,000 H Shares.

Shares of Fengxiang were actively traded on the first trading day. Its share price closed at HK$3.36 with an intra-day high of HK$3.59 per share. A total of approximately 70.82 million shares were traded, with an aggregate turnover of approximately HK$244 million.

Mr. Liu Zhiguang, the Chairman and Executive Director of Shandong Fengxiang Co., Ltd. said, “Getting listed on the Hong Kong Stock Exchange is an important milestone in the Company’s development. We are very grateful for the support and attention from all our investors. Listing in Hong Kong not only enables the Company to enter into the international capital markets but also provides funds for the long-term development of the Company to grasp development opportunities in the industry. We are very honored to receive enthusiastic support from international investors during the global offering. With our leading market position and competitive advantages, Fengxiang will be able to capture these opportunities and explore new business opportunities and markets. Looking into the future, the Group plans to expand our production capacities for white-feathered broilers production to further enhance our vertically integrated business model; continue to expand our sales and distribution network and tap into new markets; and continue to expand and diversify our product portfolio with a focus on processed chicken meat products. Besides, the Group will strengthen our research and development capacities to diversify our product portfolio and to improve our expertise and technical knowhow, and pursue appropriate strategic alliance, joint ventures or other acquisition opportunities to maximize the value to our shareholders.”