China Xiangtai Food Co. Ltd., an emerging growth company engaged in the food processing business, announced that the company, through its primary operating subsidiary Chongqing Penglin Food Co. Ltd., has entered into a lease agreement to expand hog breeding business in Guangxi Province. Pursuant to the Agreement, the company has agreed to rent a 2,500-square-meter hog breeding farm with four hog breeding houses in Guangxi for five years until May 7, 2025.

"By combining the capacity of the Farm and business experience of our company, we will be able to have better control of the supply chain and thus our company to continue building our competitive advantages in the market," said Ms. Zeshu Dai, Chairman and Chief Executive Officer of China Xiangtai Food Co., Ltd.