Yuanfei Pet Shareholder Apologizes for Non-Compliance Reduction, Promises to Repurchase 580,000 Shares and Pay Difference in Price

Yuanfei Pet Shareholder Apologizes for Non-Compliance Reduction, Promises to Repurchase 580,000 Shares and Pay Difference in Price

The First Pet Conference and the Second International Cat Litter Conference will be held from September 28th to 30th in Ningcheng County, Chifeng City, China. As the largest bentonite cat litter production base in China, Nincheng County is known as the “Hometown of Cat Litter in China” and the “Cat Litter Factory of the World”, providing customized products for more than 1,400 brands from 106 countries around the world. The conference will bring together elites in the pet industry to discuss the new trends of the industry and seize the first opportunity of the “it economy”.

Defender Cat Multivitamin products have been upgraded. The newly launched “Lactoferrin Cat Multivitamin” has added a high concentration of lactoferrin while retaining the original health maintenance function. Lactoferrin is the core immune protein in breast milk, which can effectively enhance the immunity of cats.

Taobao has launched the Return Treasure service for all Taobao and Tmall merchants. Once a merchant subscribes to the service, the cost of return shipping will be reduced by 10% to 30%, which is expected to save 2 billion dollars in return shipping costs throughout the year.

Yuanfei Pet (001222. SZ) announced that Pingyang Shengyu, a shareholder of the company, violated his commitment in the Prospectus of Yuanfei Pet by reducing the price of the company’s shares below the issue price of the initial public offering. Pingyang Shengyu sincerely apologizes for this breach of commitment and undertakes to repurchase the 580,000 shares of Yuanfei Pet that were illegally reduced within ten working days after receiving the Decision on Administrative Supervisory Measures. If the average price of the repurchase is lower than the average price of the illegally reduced shares, the amount corresponding to the difference will be surrendered to the Company.

Original article by KPTer, if reproduced, please cite the source: https://www.kaipet.com/en/yuanfei-pet-shareholder-apologizes-compliance-reduction-promises-repurchase-580000-shares-pay-difference-price

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