On February 6, 2026, Muyuan Foods Co., Ltd. (“Muyuan”, stock code: 2714.HK) successfully completed its initial global offering and was listed on the Main Board of The Hong Kong Stock Exchange, achieving a dual listing in both the A-share and H-share markets. Fangda Partners acted as PRC legal counsel and data compliance counsel to the issuer and provided comprehensive legal services, including CSRC filing, legal due diligence and data compliance.

The offer price for the global offering was HKD39 per share. Before the exercise of the over-allotment option, a total of 273,951,400 shares were issued, raising gross proceeds of approximately HKD10.6841 billion.

Muyuan was listed on the Main Board of the Shenzhen Stock Exchange in January 2014 (stock code: 002714.SZ). It is a technology-driven leader in the pork industry and a pioneer in smart hog farming. Muyuan operates a vertically integrated business model covering the entire hog industry value chain, including hog breeding, hog farming, feed production, slaughtering, and meat processing. Since 2021, Muyuan Foods has been the world’s largest hog farming company in terms of production capacity and hog sales volume, ranking first globally in hog sales volume for four consecutive years. Since entering the hog slaughtering and meat processing business in 2019, Muyuan Foods has further expanded its industry presence. In 2024, it ranked fifth globally and first in China in the slaughtering and meat processing sector in terms of slaughter volume.

The Fangda team advising on this offering was led by partners WU Dong, LIU Lu and WANG Yingjie. Key team members included HOU Quan, Lily FU, Hannah WU, Susan YU, WANG Xin and LI Shuang. Our data compliance team, led by partners Gil ZHANG and LI Huihui, also provided data compliance and cybersecurity legal services. The team members included Lu Yuxin and Choppy XU.