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ANNOUNCEMENT OF OFFER PRICE
AND ALLOTMENT RESULT
SUMMARY
Offer Price
• The Offer Price has been determined at HK$15.36 per Offer Share (exclusive of brokerage
of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong
Kong Stock Exchange trading fee of 0.00565%).
Net Proceeds from the Global Offering
• Based on the Offer Price of HK$15.36 per Offer Share, the net proceeds from the Global
Offering to be received by the Company, after deduction of the underwriting fees and
commissions and other estimated expenses payable by the Company in connection with
the Global Offering, are estimated to be approximately HK$716.4 million. The Company
intends to use the net proceeds from the Global Offering in the manner as set out in the
paragraph headed “Net Proceeds from the Global Offering ” in this announcement.
Applications and Indications of Interest Received in the Hong Kong Public Offering
• The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have
been slightly over-subscribed. A total of 1,154 valid applications have been received
pursuant to the Hong Kong Public Offering through the HK eIPO White Form service
and through the CCASS EIPO service for a total of 7,023,000 Hong Kong Offer Shares,
representing approximately 1.31 times of the total number of 5,341,200 H Shares initially
available for subscription under the Hong Kong Public Offering.
• As the over-subscription in the Hong Kong Public Offering represents less than 15 times of
the total number of Offer Shares initially available under the Hong Kong Public Offering,
no reallocation procedure as disclosed in the section headed “Structure of the Global
Offering – The Hong Kong Public Offering – Reallocation ” in the Prospectus has been
applied and no H Shares have been reallocated from the International Offering to the Hong
Kong Public Offering. The final number of H Shares under the Hong Kong Public Offering
is 5,341,200 H Shares, representing approximately 10% of the total number of Offer Shares
initially available under the Global Offering. The total number of successful applicants
under the Hong Kong Public Offering is 1,154, among which 711 Shareholders were
allocated with one board lot of the H Shares.


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International Offering
• The H Shares initially offered under the International Offering have been slightly over-
subscribed, representing approximately 1.26 times of the total number of H Shares initially
available under the International Offering. The final number of H Shares under the
International Offering is 48,066,300 H Shares, representing approximately 90% of the total
number of H Shares initially available under the Global Offering.
• A total of 102 placees have been allotted five board lots of H Shares or less, representing
approximately 91.07% of the 112 placees under the International Offering. These placees
have been allotted 30,600 H Shares in total, representing approximately 0.06% of the Offer
Shares available under the International Offering and 0.06% of the Offer Shares available
under the Global Offering.
• A total of 102 placees have been allotted one board lot of H Shares or less, representing
approximately 91.07% of the 112 placees under the International Offering. These placees
have been allotted 30,600 H Shares in total, representing approximately 0.06% of the Offer
Shares available under the International Offering and 0.06% of the Offer Shares available
under the Global Offering.
Cornerstone Investor
• Based on the Offer Price of HK$15.36 per Offer Share (exclusive of brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong
Stock Exchange trading fee of 0.00565%), pursuant to the Cornerstone Investment
Agreement, the Cornerstone Investor has subscribed for a total of 6,632,400 H Shares,
representing in aggregate (a) approximately 0.62% of the issued share capital of the
Company immediately upon completion of the Global Offering and (b) approximately
12.42% of the number of Offer Shares under the Global Offering. Please refer to the section
headed “Cornerstone Investor ” in the Prospectus for further details of the Cornerstone
Investor.
Placing of Offer Shares with Consent under the Placing Guidelines
• The International Offering is in compliance with the Placing Guidelines for Equity
Securities in Appendix 6 to the Listing Rules (the “Placing Guidelines ”). None of
the Joint Sponsors, the Overall Coordinators, the Joint Global Coordinators, the Joint
Bookrunners, the Joint Lead Managers, the Underwriters, the Capital Market Intermediaries
and their respective affiliated companies and connected clients of the lead broker or of any
distributors (as defined in the Placing Guidelines) has taken up any Offer Shares for its
own benefit under the Global Offering.
• The Directors confirm that, to the best of their knowledge and information, no Offer Shares
under the International Offering placed by or through the Overall Coordinators, the Joint
Global Coordinators, the Joint Bookrunners, the Joint Lead Managers, the Underwriters
or the Capital Market Intermediaries under the Global Offering have been placed with
any core connected person (as defined in the Listing Rules) of the Company, or to any
connected clients (as set out in paragraph 5(1) of the Placing Guidelines), or persons set
out in paragraph 5(2) of the Placing Guidelines, whether in their own names or through
nominees.


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Confirmations of Cornerstone Investor, public Shareholders in the Hong Kong Public
Offering and placees in the International Offering
• To the best of the knowledge, information and belief of our Company, (i) the Cornerstone
Investor and the QDII (as defined in the Prospectus) are independent of the Company,
its connected persons and their respective associates; (ii) the Cornerstone Investor is not
accustomed to take and has not taken instructions from our Company, our subsidiaries, the
Directors, Supervisors, chief executive of our Company, Controlling Shareholders Group,
substantial Shareholders or existing Shareholders or any of their respective close associates
in relation to the acquisition, disposal, voting or other disposition of the Offer Shares; and
(iii) the subscription of the Offer Shares by the Cornerstone Investor is not financed by our
Company, our subsidiaries, the Directors, Supervisors, chief executive of our Company,
Controlling Shareholders Group, substantial Shareholders or existing Shareholders or any
of their respective close associates.
• To the best knowledge of the Company, (i) none of the Offer Shares subscribed by public
Shareholders in the Hong Kong Public Offering and placees in the International Offering
has been directly or indirectly financed by the Company, the Directors, chief executive,
Supervisors, the Controlling Shareholders, Substantial Shareholders, existing Shareholders
or any of their subsidiaries or their respective close associates; (ii) none of the public
Shareholders in the Hong Kong Public Offering and placees in the International Offering
who has subscribed for the Offer Shares is accustomed to taking instructions from the
Company, the Directors, chief executive, Supervisors, the Controlling Shareholders,
Substantial Shareholders, existing Shareholders or any of their subsidiaries or their
respective close associates in relation to the acquisition, disposal, voting or other
disposition of the H Shares registered in their name or otherwise held by them; (iii)
there is no side agreement or arrangement between the Company, any of the Directors,
the Supervisors, chief executive, the Controlling Shareholders, substantial Shareholders,
existing Shareholders of the Company or any of its subsidiaries or their respective close
associates, on one hand, and the public subscribers or the placee who has subscribed for
the Offer Shares, on the other hand; (iv) no rebate has been, directly or indirectly, provided
by the Company, the Directors, the Supervisors, chief executive of the Company, the
Controlling Shareholders, substantial Shareholders of the Company, existing Shareholders
of the Company or any of their subsidiaries or their respective close associates or syndicate
members or any other brokers or underwriters to any public Shareholders in the Hong
Kong Public Offering or placees in the International Offering; and (v) the consideration
payable by the public Shareholders in the Hong Kong Public Offering and placees in the
International Offering for each Share subscribed for or purchased by them is the same as
the final Offer Price as determined by the Company, in additional to brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong
Stock Exchange trading fee of 0.00565%.
• The Directors confirm that, no placees will, individually, be placed more than 10% of the
enlarged issued share capital of the Company immediately after the Global Offering.


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Lock-up Obligations
• The Company, all existing Shareholders, and the Cornerstone Investor are subject to
lock-up obligations in respect of the Shares as set out in the paragraph headed “Lock-up
Obligations ” in this announcement.
Public Float
• The Company have applied to the Stock Exchange to exercise its discretion under Rule
8.08(1)(d) of the Listing Rules to grant, and the Stock Exchange has granted, a waiver from
strict compliance with the minimum public float requirement under Rule 8.08(1)(a) of the
Listing Rules so that the minimum percentage of the Shares from time to time to be held by
the public will be 15.7% of the total issued share capital of our Company (including the H
Shares to be converted from Domestic Unlisted Shares and held by the Pre-IPO Investors,
and assuming the Conversion of Domestic Unlisted Shares into H Shares is completed).
• The Directors confirm that there will be at least 300 Shareholders at the time of the Listing
in compliance with Rule 8.08(2) of the Listing Rules, and that the three largest public
Shareholders do not hold more than 50% of the shares held in public hands at the time of
the Listing in compliance with Rule 8.08(3) and Rule 8.24 of the Listing Rules.
Results of Allocation
The final Offer Price, results of applications in the Hong Kong Public Offering, the level of
indications of interests in the International Offering, the level of applications in the Hong Kong
Public Offering and the basis of allocation of the Hong Kong Offer Shares will be published on
Wednesday, October 11, 2023, on the websites of the Company at www.shiyuedaotian.com  and
the Stock Exchange at www.hkexnews.hk  .


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The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
successfully applied for through the HK eIPO White Form service or through the CCASS
EIPO service, including the Hong Kong identity card numbers, passport numbers or Hong Kong
business registration numbers, certificate of incorporation numbers of successful applicants
(where applicable) and the number of Hong Kong Offer Shares successfully applied for, will be
made available at the times and dates and in the manner specified below:
• in the announcement to be posted on the Company ’s website at www.shiyuedaotian.com
and the Stock Exchange ’s website at www.hkexnews.hk  by no later than 9:00 a.m. on
Wednesday, October 11, 2023;
• from “IPO Results ” function in the IPO App  or the designated results of allocations
website at www.tricor.com.hk/ipo/result  or www.hkeipo.hk/IPOResult  with a “search
by ID ” function on a 24-hour basis from 8:00 a.m. on Wednesday, October 11, 2023 to
12:00 midnight, on Tuesday, October 17, 2023;
• by telephone enquiry line by calling +852 3691 8488 between 9:00 a.m. and 6:00 p.m. from
Wednesday, October 11, 2023 to Monday, October 16, 2023 (excluding Saturday, Sunday
and public holiday in Hong Kong).
This announcement contains a list of identification document numbers. Identification document
numbers shown in the section headed “Results of Applications Made by HK eIPO White
Form ” in this announcement refer to Hong Kong identity card numbers/passport numbers/
Hong Kong business registration numbers/certificate of incorporation numbers/beneficial owner
identification codes (if such applications are made by nominees as agent for the benefit of
another person) whereas those displayed in the section headed “Results of Applications Made
by Giving Electronic Application Instructions to HKSCC via CCASS ” in this announcement are
provided by CCASS Participants via CCASS. Therefore, the identification document numbers
shown in the two sections are different in nature.
Please note that the list of identification document numbers set out in this announcement may not
be a complete list of successful applicants since only successful applicants whose identification
document numbers are provided to HKSCC by CCASS Participants or via the HK eIPO White
Form  service are disclosed. Applicants with beneficial names only but not identification
document numbers are not disclosed due to personal privacy issue as elaborated below.
Applicants who applied for the Hong Kong Offer Shares through their brokers or nominees can
consult their brokers or nominees to enquire about their application results.
Since applications are subject to personal information collection statements, beneficial owner
identification codes displayed in the sections headed “Results of Applications Made by HK
eIPO White Form ” and “Results of Applications Made by Giving Electronic Application
Instructions to HKSCC via CCASS ” are redacted and not all details of applications are disclosed
in this announcement.


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Dispatch/Collection of H Share Certificates/e-Auto Refund Payment Instructions/Refund
Checks
• Applicants who applied for 1,000,000 Hong Kong Offer Shares or more through the HK
eIPO White Form  service and who have been successfully or partially successfully
allocated Hong Kong Offer Shares may collect refund cheque(s) and/or H Share
certificate(s) (where applicable) from the H Share Registrar, Tricor Investor Services
Limited, at 17/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong from 9:00 a.m. to
1:00 p.m. on Wednesday, October 11, 2023, or any other place or date the Company may
notify.
• Applicants being individuals who are eligible for personal collection cannot authorize any
other person to make collection on their behalf. Corporate applicants which are eligible
for personal collection must attend by their authorised representatives bearing letters
of authorisation from their corporations stamped with the corporations ’ chops. Both
individuals and authorised representatives (if applicable) must produce, at the time of
collection, evidence of identity acceptable to the H Share Registrar.
• H Share certificates for Hong Kong Offer Shares allocated to applicants who applied
through the HK eIPO White Form service which are either not available for personal
collection or which are available but are not collected in person within the time specified
for collection are expected to be dispatched by ordinary post to those entitled to them at
their own risk on or before Wednesday, October 11, 2023.
• Wholly or partially successful applicants who applied by giving electronic application
instructions to HKSCC via CCASS will have their H Share certificates issued in the
name of HKSCC Nominees Limited and deposited into CCASS for credit to their CCASS
Investor Participant stock accounts or the stock accounts of their designated CCASS
Participant stock accounts who gave electronic application instructions on their behalf on
Wednesday, October 11, 2023.
• Applicants who applied through a designated CCASS Participant (other than a CCASS
Investor Participant) should check the number of Hong Kong Offer Shares allotted to them
with that CCASS Participant.
• Applicants who applied through the HK eIPO White Form  service and paid the
application monies from a single bank account will have refund monies (if any) dispatched
to their application payment accounts in the form of e-Auto Refund payment instructions
on Wednesday, October 11, 2023. Applicants who applied through the HK eIPO White
Form service and paid the application monies from multiple bank accounts will have
refund monies (if any) dispatched to the addresses specified on their HK eIPO White
Form applications in the form of refund check(s) in favour of the applicant (or, in the case
of joint applications, the first-named applicant) by ordinary post at their own risk on or
before Wednesday, October 11, 2023.
• Refund monies for applicants who have applied by giving electronic application
instructions to HKSCC via CCASS are expected to be credited to the relevant applicants ’
designated bank accounts or the designated bank accounts of their brokers or custodians on
Wednesday, October 11, 2023.


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• H Share certificates will only become valid evidence of title at 8:00 a.m. on Thursday,
October 12, 2023, provided that the Global Offering has become unconditional and the
right of termination described in the section headed “Underwriting {  Underwriting
Arrangements and Expenses { Hong Kong Public Offering {  Grounds for Termination ”
in the Prospectus has not been exercised.
• No temporary document of title will be issued in respect of the H Shares. No receipt will
be issued for sums paid on application.
Commencement of Dealings
• H Share certificates for the Hong Kong Offer Shares will only become valid evidence of
title provided that the Global Offering has become unconditional in all respects and neither
of the Underwriting Agreements has been terminated in accordance with its terms, which is
scheduled to be at around 8:00 a.m. on Thursday, October 12, 2023. Investors who trade H
Shares on the basis of publicly available allocation details before the receipt of the H Share
certificates and before they become valid do so entirely of their own risk.
• Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on
Thursday, October 12, 2023 (Hong Kong time), it is expected that dealings in the H Shares
on the Stock Exchange will commence at 9:00 a.m. on Thursday, October 12, 2023 (Hong
Kong time). The H Shares will be traded on the Main Board of the Stock Exchange in
board lots of 300 H Shares each. The stock code of the H Shares will be 9676.
In view of the high concentration of shareholding in a small number of H Shareholders,
H Shareholders and prospective investors should be aware that the price of the H Shares
could move substantially even with a small number of H Shares traded, and should exercise
extreme caution when dealing in H Shares.
OFFER PRICE
The Offer Price has been determined at HK$15.36 per H Share (exclusive of brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock
Exchange trading fee of 0.00565%).
NET PROCEEDS FROM THE GLOBAL OFFERING
Based on the Offer Price of HK$15.36 per H Share, the net proceeds from the Global Offering
to be received by the Company, after deduction of underwriting fees and commissions and other
estimated expenses payable by the Company in connection with the Global Offering, are estimated
to be approximately HK$716.4 million.


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The Company intends to apply the net proceeds as follows:
• Approximately 35.0%, or HK$250.7 million, will be used to enhance our cooperation with
suppliers and strengthen our procurement capability. In particular:
(i) approximately 20%, or HK$143.3 million, will be used to (a) strengthen seamless
cooperation with our existing and new suppliers, mainly located in our five core
production areas, namely Shenyang Xinmin, Wuchang, Songyuan, Tonghe and Aohan,
primarily through payment of deposit to secure consistent and quality supply of raw
materials for us, as well as (b) investment and support in facilities, systems and
technologies that would further improve the efficiency of our integrated supply chain,
such as the harvest and transportation of raw materials;
(ii) approximately 10%, or HK$71.6 million, will be used for contract farming for (i)
procurement amount of approximately 28,300 tons of paddy in terms of production
volume and (ii) farming area of approximately 720 farming hectare with expected yield
of approximately 4,790 tons of paddy in terms of agricultural land area; and
(iii) approximately 5%, or HK$35.8 million, will be used to further enhance our internal
procurement capabilities.
• Approximately 30.0%, or HK$214.9 million, will be used for expanding our production
capacity, upgrading existing production lines, broadening the geographic coverage of our
warehousing and logistics, and providing funds for production activities related to our
business expansion. In particular:
(i) approximately 14.1%, or HK$101.2 million, will be used for expanding our production
capacity, including construction of new factories, establishment of new production and
processing lines, and purchase of equipment, to better meet growing market demand for
our products;
(ii) approximately 1.5%, or HK$10.9 million, will be used for upgrading existing production
lines through adoption of more advanced equipment and improved techniques to
enhance production efficiency;
(iii) approximately 13.9%, or HK$99.4 million, will be used for broadening the geographic
coverage of our warehousing and logistics, including expansion of warehouse facilities,
purchase of warehouse equipment, establishment of logistics bases and introduction
of advanced logistics equipment and systems, to optimize our inventory management,
improve warehousing capabilities and enhance logistical efficiency; and
(iv) approximately 0.5%, or HK$3.4 million, will be used to fund for production activities
related to our business expansion such as factory renovation and procurement of related
facilities associated with capacity expansion to further support capacity expansion and
improve overall operational efficiency.


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• Approximately 10.0%, or HK$71.6 million, will be used to expand our channel coverage
and establish our sales ecosystem. We plan to deepen our cooperation with large offline
retailers such as national and regional supermarkets, amplify our presence over the
e-commerce platforms with leading positions, explore opportunities in emerging e-commerce
platforms and broaden our distribution network on China, thereby improving the visibility
and accessibility of our products to existing and potential customers across the country. In
particular:
(i) approximately 3.0%, or HK$21.5 million, will be used to continuously enhance
our cooperation with grocery retail channel partners such as national and regional
supermarkets and increase consumer interaction through offline activities, such as
product display, product tasting, and sales promotion, to enhance consumer education
and improve brand loyalty; and
(ii) approximately 7.0%, or HK$50.2 million, will be used to invest in channels other than
grocery retail channel partners, including leveraging the advantages of the consumer
reach, and brand awareness of e-commerce platforms to enhance our service capabilities
in such channels, and to explore new e-commerce platforms to expand our market
coverage, operate efficiently, harness more profitability potentials and explore new
cooperation opportunities in emerging channels such as social e-commerce platforms
and community group buying platforms. In addition, we also plan to expand our
distribution network to enhance market presence and deepen market penetration.
• Approximately 10.0%, or HK$71.6 million, will be used to enhance our brand equity. A
quality and diversified product offerings are the key to our high brand recognition. As we
increase our efforts on the development of products, consumers need time to get used to new
products, in particular products under new categories. Thus, we plan to increase our brand
marketing efforts on our existing products and potential products to be launched in the future.
In particular:
(i) approximately 7.0%, or HK$50.2 million, will be used for advertising, including
content productions, live streaming and promotion on social media platforms, celebrity
endorsements, engagement with KOLs and other online and offline integrated promotion
activities, to enhance our brand awareness and improve brand impact; and
(ii) approximately 3.0%, or HK$21.5 million, will be used to enhance our sales and
marketing capabilities and further optimize the efficiency of our sales and marketing
promotion.
• Approximately 5.0%, or HK$35.8 million, will be used to construct our digital middle
platform system, which integrates the full digital chain including IT infrastructure, backend,
middleware, frontend and touchpoints, to optimize the support for our business management.
• Approximately 10.0%, or HK$71.6 million, will be used for working capital and general
corporate purposes.
For further information, please refer to the section headed “Future Plans and Use of Proceeds ” in
the Prospectus.


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APPLICATIONS AND INDICATIONS OF INTEREST RECEIVED IN THE HONG KONG
PUBLIC OFFERING
The Hong Kong Offer Shares initially available under the Hong Kong Public Offering have been
slightly over-subscribed. At the close of the application lists at 12:00 noon on Thursday, October
5, 2023, a total of 1,154 valid applications have been received pursuant to the Hong Kong Public
Offering through the HK eIPO White Form service and through the CCASS EIPO service for
a total of 7,023,000 Hong Kong Offer Shares, representing approximately 1.31 times of the total
number of 5,341,200 Offer Shares initially available for subscription under the Hong Kong Public
Offering, among which:
• 1,152 valid applications in respect of a total of 1,681,800 Hong Kong Offer Shares were
for the Hong Kong Public Offering with an aggregate subscription amount based on
the maximum Offer Price of HK$15.8 per H Share (excluding brokerage of 1.0%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock
Exchange trading fee of 0.00565%) of HK$5 million or less, representing approximately 0.63
times of the 2,670,600 Hong Kong Offer Shares initially comprised in Pool A; and
• 2 valid applications in respect of a total of 5,341,200 Hong Kong Offer Shares were for the
Hong Kong Public Offering with an aggregate subscription amount based on the maximum
Offer Price of HK$15.8 per Offer Share (excluding brokerage of 1.0%, SFC transaction levy
of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock Exchange trading fee
of 0.00565%) of more than HK$5 million, representing 2 times of the 2,670,600 Hong Kong
Offer Shares initially comprised in Pool B.
No application has been rejected due to dishonored payments. No invalid application has been
identified and rejected. No multiple applications or suspected multiple applications have been
identified and rejected. No application for more than 2,670,600 (being 50% of the 5,341,200 Hong
Kong Offer Shares initially available under the Hong Kong Public Offering) has been identified.
As the over-subscription in the Hong Kong Public Offering is less than 15 times, no reallocation
procedure as disclosed in the section headed “Structure of the Global Offering – The Hong Kong
Public Offering – Reallocation ” in the Prospectus has been applied and no H Shares have been
reallocated from the International Offering to the Hong Kong Public Offering. The final number
of Offer Shares under the Hong Kong Public Offering is 5,341,200 H Shares, representing
approximately 10% of the total number of Offer Shares initially available under the Global
Offering. The total number of successful applicants under the Hong Kong Public Offering is 1,154,
among which 711 Shareholders were allocated with one board lot of the H Shares.
The H Shares offered in the Hong Kong Public Offering were conditionally allocated on the basis
set out in the paragraph headed “Basis of Allocation under the Hong Kong Public Offering ” below.


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INTERNATIONAL OFFERING
The H Shares initially offered under the International Offering have been slightly over-subscribed,
representing approximately 1.26 times of the total number of H Shares initially available under
the International Offering. The final number of Offer Shares allocated to the placees under the
International Offering is 48,066,300 H Shares, representing approximately 90% of the total number
of Offer Shares initially available under the Global Offering.
A total of 102 placees have been allotted five board lots of H Shares or less, representing
approximately 91.07% of the 112 placees under the International Offering. These placees have
been allotted 30,600 H Shares in total, representing approximately 0.06% of the Offer Shares
initially available under the International Offering and 0.06% of the Offer Shares available under
the Global Offering.
A total of 102 placees have been allotted one board lot of H Shares or less, representing
approximately 91.07% of the 112 placees under the International Offering. These placees have
been allotted 30,600 H Shares in total, representing approximately 0.06% of the Offer Shares
available under the International Offering and 0.06% of the Offer Shares available under the
Global Offering.
Cornerstone Investor
Based on the Offer Price of HK$15.36 per Offer Share (excluding brokerage of 1.0%, SFC
transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock Exchange
trading fee of 0.00565%) and pursuant to the Cornerstone Investment Agreement as disclosed
in the section headed “Cornerstone Investor ” in the Prospectus, the number of Offer Shares
subscribed for by the Cornerstone Investor is determined as set out below:
Cornerstone Investor
Total
Investment
Amount (1)
Number of
Offer Shares
to be
acquired (2)
Approximate
% of the
Offer Shares
Approximate
% of the
International
Offer Shares
Approximate
% of our total
issued share
capital
immediately upon
completion of the
Global Offering
(assuming the
Share Split is
completed)
(HK$)
Xinmin Tianshi 102,903,191 6,632,400 12.42% 13.80% 0.62%
Notes:
(1) The total investment amount include brokerage of 1.0%, SFC transaction levy of 0.0027%, AFRC transaction
levy of 0.00015% and Stock Exchange trading fee of 0.00565%. Due to the currency exchange difference, the
total investment amount disclosed in the table above is different from the illustrative investment amount to be
subscribed by the Cornerstone Investor as disclosed in the Prospectus.


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(2) Subject to rounding down to the nearest whole board lot of 300 Shares. The final number of the Offer Shares
allotted to the Cornerstone Investor was calculated with reference to the actual total investment amount in Hong
Kong dollars. Due to the total investment amount difference as illustrated in note (1) above, the final number
of Offer Shares allotted may be different from the illustrative number of Offer Shares to be subscribed by the
Cornerstone Investor as disclosed in the Prospectus.
Please refer to the section headed “Cornerstone Investor ” in the Prospectus for further details
relating to the Cornerstone Investor.
CONFIRMATIONS OF CORNERSTONE INVESTOR, PUBLIC SHAREHOLDERS IN
THE HONG KONG PUBLIC OFFERING AND PLACEES IN THE INTERNATIONAL
OFFERING
To the best knowledge of the Company, none of the Cornerstone Investor, public Shareholders in
the Hong Kong Public Offering and placees in the International Offering is an existing Shareholder
or a close associate of existing Shareholders.
Further, to the best of the knowledge, information and belief of our Company, (i) the Cornerstone
Investor and the QDII (as defined in the Prospectus) are independent of the Company, its connected
persons and their respective associates; (ii) the Cornerstone Investor is not accustomed to take and
has not taken instructions from our Company, our subsidiaries, the Directors, Supervisors, chief
executive of our Company, Controlling Shareholders Group, substantial Shareholders or existing
Shareholders or any of their respective close associates in relation to the acquisition, disposal,
voting or other disposition of the Offer Shares; and (iii) the subscription of the Offer Shares by the
Cornerstone Investor is not financed by our Company, our subsidiaries, the Directors, Supervisors,
chief executive of our Company, Controlling Shareholders Group, substantial Shareholders or
existing Shareholders or any of their respective close associates.
Furthermore, to the best knowledge of the Company, (i) none of the Offer Shares subscribed by
public Shareholders in the Hong Kong Public Offering and placees in the International Offering has
been directly or indirectly financed by the Company, the Directors, chief executive, Supervisors,
the Controlling Shareholders, Substantial Shareholders, existing Shareholders or any of their
subsidiaries or their respective close associates; (ii) none of the public Shareholders in the Hong
Kong Public Offering and placees in the International Offering who has subscribed for the Offer
Shares is accustomed to taking instructions from the Company, the Directors, chief executive,
Supervisors, the Controlling Shareholders, Substantial Shareholders, existing Shareholders or any
of their subsidiaries or their respective close associates in relation to the acquisition, disposal,
voting or other disposition of the Shares registered in their name or otherwise held by them;
(iii) there is no side agreement or arrangement between the Company, any of the Directors, the
Supervisors, chief executive, the Controlling Shareholders, substantial Shareholders, existing
Shareholders of the Company or any of its subsidiaries or their respective close associates, on one
hand, and the public subscribers or the placee who has subscribed for the Offer Shares, on the
other hand; (iv) no rebate has been, directly or indirectly, provided by the Company, the Directors,
the Supervisors, chief executive of the Company, the Controlling Shareholders, substantial
Shareholders of the Company, existing Shareholders of the Company or any of their subsidiaries
or their respective close associates or syndicate members or any other brokers or underwriters to
any public Shareholders in the Hong Kong Public Offering or placees in the International Offering;
and (v) the consideration payable by the public Shareholders in the Hong Kong Public Offering
and placees in the International Offering for each Share subscribed for or purchased by them is
the same as the final Offer Price as determined by the Company, in addition to brokerage of 1.0%,
SFC transaction levy of 0.0027%, AFRC transaction levy of 0.00015% and Hong Kong Stock
Exchange trading fee of 0.00565%.


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15
No Offer Shares placed by or through the Overall Coordinators, the Joint Global Coordinators, the
Joint Bookrunners, the Joint Lead Managers and the Underwriters under the Global Offering have
been placed with any core connected person (as defined in the Listing Rules) of the Company, or
any connected clients (as set out in paragraph 5(1) of the Placing Guidelines) or persons set out in
paragraph 5(2) of the Placing Guidelines, whether in their own names or through nominees. The
Directors confirm that, no placees will, individually, be placed more than 10% of the enlarged
issued share capital of the Company immediately after the Global Offering.
LOCK-UP OBLIGATIONS
The Company, all existing Shareholders, and the Cornerstone Investor are subject to lock-up
obligations (the “Lock-up Obligations ”) in respect of the Shares. The major terms of the Lock-up
Obligations are as follows:
Name Class of Shares
Number of Shares
subject to the Lock-up
Obligations after Listing
Percentage of
shareholding in the
Company subject to the
Lock-up Obligations
after Listing
Last day of the
Lock-up Period
The Company (subject to lock-up obligations pursuant to the Listing Rules and the Hong Kong Underwriting Agreement)
N/A N/A N/A April 12, 2024 (1)
The Controlling Shareholders  (subject to lock-up obligations pursuant to the Listing Rules, October 12, 2024 (2)
 the Hong Kong Underwriting Agreement and PRC Company Law)
All other existing Shareholders (subject to lock-up obligations pursuant to the PRC Company Law)
Generation Sigma HK H Shares 88,710,970 8.31% October 12, 2024 (3)
Domestic Unlisted Shares 38,018,980 3.56% October 12, 2024 (3)
MIC H Shares 34,811,460 3.26% October 12, 2024 (3)
Domestic Unlisted Shares 14,919,190 1.40% October 12, 2024 (3)
YF Mega Media (HK) H Shares 34,508,920 3.23% October 12, 2024 (3)
Sequoia Capital China Growth H Shares 14,378,720 1.35% October 12, 2024 (3)
Domestic Unlisted Shares 14,378,720 1.35% October 12, 2024 (3)
Sequoia Hanchen H Shares 14,378,720 1.35% October 12, 2024 (3)
Domestic Unlisted Shares 14,378,720 1.35% October 12, 2024 (3)
CMC October H Shares 12,883,330 1.21% October 12, 2024 (3)
Domestic Unlisted Shares 5,521,430 0.52% October 12, 2024 (3)
Zhao Shulan Domestic Unlisted Shares 12,883,340 1.21% October 12, 2024 (3)
Ceran Investment H Shares 3,220,830 0.30% October 12, 2024 (3)
Domestic Unlisted Shares 1,380,360 0.13% October 12, 2024 (3)
Subtotal 304,373,690 28.5%
Cornerstone Investor (subject to lock-up obligations pursuant to its Cornerstone Investment Agreement)
Xinmin Tianshi H Shares 6,632,400 0.62% April 12, 2024 (4)
Subtotal 6,632,400 0.62%
Total 1,021,378,050 95.62%


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16
Notes:
(1) The Company may not issue Shares prior to the indicated date except otherwise permitted by the Listing Rules.
(2) This includes the Shares held by Mr. Wang, Ms. Zhao, Shiyue Daotian Enterprise Management, Shiyue Jinfeng,
Shiyue Zhongxin and Shenyang Hongsheng which are the Controlling Shareholders of the Company. For
details, please refer to sections headed “Relationship with Controlling Shareholders Group ” and “Substantial
Shareholders ” in the Prospectus. Each of the Controlling Shareholder(s) shall not dispose of any of its existing
Shares on or before the indicated date.
(3) Each of the other existing Shareholders shall not dispose of any of its existing Shares on or before the indicated
date.
(4) The Cornerstone Investor shall not dispose of the Offer Shares acquired in the Global Offering on or before the
indicated date.
Each of the existing Shareholders are subject to statutory lock-up requirement for one year from the
Listing Date pursuant to the PRC Company Law. As such, all existing Shareholders of 811,852,700
Domestic Unlisted Shares and 202,892,950 H Shares (as converted from Domestic Unlisted Shares)
will be subject to the one-year statutory lock-up requirement. Please refer to the paragraph headed
“History, Development and Corporate Structure – Principal Terms of the Pre-IPO Investments and
Pre-IPO Investors ’ Rights ” in the Prospectus for details of the lock-up requirement.
BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the paragraph headed “Structure of the
Global Offering – Conditions of the Global Offering ” in the Prospectus, 1,154 valid applications
made by the public through the HK eIPO White Form service and the CCASS EIPO service will
be conditionally allocated on the basis set out below:
Pool A
Number
of H Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of the
total number
of H Shares
applied for
300 711 300 H Shares 100.00%
600 178 600 H Shares 100.00%
900 43 900 H Shares 100.00%
1,200 17 1,200 H Shares 100.00%
1,500 27 1,500 H Shares 100.00%
1,800 14 1,800 H Shares 100.00%
2,100 13 2,100 H Shares 100.00%
2,400 9 2,400 H Shares 100.00%
2,700 5 2,700 H Shares 100.00%
3,000 58 3,000 H Shares 100.00%
4,500 27 4,500 H Shares 100.00%
6,000 21 6,000 H Shares 100.00%
7,500 6 7,500 H Shares 100.00%
9,000 2 9,000 H Shares 100.00%
10,500 4 10,500 H Shares 100.00%


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17
Pool A
Number
of H Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of the
total number
of H Shares
applied for
12,000 9 12,000 H Shares 100.00%
15,000 4 15,000 H Shares 100.00%
30,000 2 30,000 H Shares 100.00%
150,000 1 150,000 H Shares 100.00%
270,000 1 270,000 H Shares 100.00%
Total 1,152 Total number of Pool A successful applicants: 1,152
Pool B
Number
of H Shares
applied for
Number
of valid
applications Basis of allocation/ballot
Approximate
percentage
allotted of the
total number
of H Shares
applied for
2,670,600 2 1,829,700 H Shares 68.51%
Total 2 Total number of Pool B successful applicants: 2
The final number of Offer Shares under the Hong Kong Public Offering is 5,341,200 H Shares,
representing approximately 10% of the total number of Offer Shares initially available under the
Global Offering.
RESULTS OF ALLOCATIONS
The final Offer Price, results of applications in the Hong Kong Public Offering, the level of
indications of interests in the International Offering, the level of applications in the Hong Kong
Public Offering and the basis of allocation of the Hong Kong Offer Shares will be published on
Wednesday, October 11, 2023, on the websites of the Company at www.shiyuedaotian.com  and
the Stock Exchange at www.hkexnews.hk .


--- page 16 ---
18
The results of allocations of the Hong Kong Offer Shares under the Hong Kong Public Offering
successfully applied for through the HK eIPO White Form  service or through the CCASS
EIPO service, including the Hong Kong identity card numbers, passport numbers or Hong Kong
business registration numbers, certificate of incorporation numbers of successful applicants (where
applicable) and the number of the Hong Kong Offer Shares successfully applied for, will be made
available at the times and dates and in the manner specified below:
• in the announcement to be posted on the Company ’s website at www.shiyuedaotian.com
and the Stock Exchange ’s website at www.hkexnews.hk  by no later than 9:00 a.m. on
Wednesday, October 11, 2023;
• from “IPO Results ” function in the IPO App or the designated results of allocations website
at www.tricor.com.hk/ipo/result  or www.hkeipo.hk/IPOResult  with a “search by ID ”
function on a 24-hour basis from 8:00 a.m. on Wednesday, October 11, 2023 to 12:00
midnight on Tuesday, October 17, 2023;
• by telephone enquiry line by calling +852 3691 8488 between 9:00 a.m. and 6:00 p.m. from
Wednesday, October 11, 2023 to Monday, October 16, 2023 (excluding Saturday, Sunday and
public holiday in Hong Kong).
This announcement contains a list of identification document numbers. Identification document
numbers shown in the section headed “Results of Applications Made by HK eIPO White Form ”
in this announcement refer to Hong Kong identity card numbers/passport numbers/Hong Kong
business registration numbers/certificate of incorporation numbers/beneficial owner identification
codes (if such applications are made by nominees as agent for the benefit of another person)
whereas those displayed in the section headed “Results of Applications Made by Giving Electronic
Application Instructions to HKSCC via CCASS ” in this announcement are provided by CCASS
Participants via CCASS. Therefore, the identification document numbers shown in the two sections
are different in nature.
Please note that the list of identification document numbers set out in this announcement may not
be a complete list of successful applicants since only successful applicants whose identification
document numbers are provided to HKSCC by CCASS Participants or via the HK eIPO White
Form service are disclosed. Applicants with beneficial names only but not identification document
numbers are not disclosed due to personal privacy issue as elaborated below. Applicants who
applied for the Hong Kong Offer Shares through their brokers or nominees can consult their
brokers or nominees to enquire about their application results.
Since applications are subject to personal information collection statements, beneficial owner
identification codes displayed in the sections headed “Results of Applications Made by HK eIPO
White Form ” and “Results of Applications Made by Giving Electronic Application Instructions
to HKSCC via CCASS ” are redacted and not all details of applications are disclosed in this
announcement.


--- page 17 ---
19
SHAREHOLDING CONCENTRATION ANALYSIS
A summary of allotment results under the International Offering is set out below:
Top 1, 5, 10, 20 and 25 of the placees in the International Offering:
Placee Subscription
Number of
H Shares held
upon Listing
Number of
Shares held
upon Listing
Subscription
as % of
International
Offer Shares
Subscription
as % of
total Offer
Shares
Number of
H Shares
as % of total
H Shares
Number of
Shares as %
of total Shares
upon Listing
Top 1 12,228,000 12,228,000 12,228,000 25.44% 22.90% 4.77% 1.14%
Top 5 35,801,700 35,801,700 35,801,700 74.48% 67.03% 13.97% 3.35%
Top 10 48,035,700 48,035,700 48,035,700 99.94% 89.94% 18.74% 4.50%
Top 20 48,038,700 48,038,700 48,038,700 99.94% 89.95% 18.74% 4.50%
Top 25 48,040,200 48,040,200 48,040,200 99.95% 89.95% 18.74% 4.50%
Top 1, 5, 10, 20 and 25 Shareholders upon Listing:
Shareholder Subscription
Number of
H Shares held
upon Listing
Number of
Shares held
upon Listing
Subscription
as % of
International
Offer Shares (1)
Subscription
as % of
total Offer
Shares
Number of
H Shares
as % of total
H Shares
Number of
Shares as %
of total Shares
upon Listing
Top 1 – – 710,371,960 0.00% 0.00% 0.00% 66.50%
Top 5 – 172,410,070 950,098,920 0.00% 0.00% 67.27% 88.95%
Top 10 19,869,300 219,541,420 1,030,013,760 41.34% 37.20% 85.66% 96.43%
Top 20 (2) 50,063,100 252,956,050 1,064,808,750 96.54% 93.74% 98.70% 99.69%
Top 25 (3) 52,175,100 255,068,050 1,066,920,750 99.94% 97.69% 99.52% 99.88%
Top 1, 5, 10, 20 and 25 of all the holders of the H Shares of the Company upon Listing:
H Shareholder Subscription
Number of
H Shares held
upon Listing
Number of
Shares held
upon Listing
Subscription
as % of
International
Offer Shares (1)
Subscription
as % of total
Offer Shares
Number of
H Shares
as % of total
H Shares
Number of
 Shares as %
of total Shares
upon Listing
Top 1 – 88,710,970 126,729,950 0.00% 0.00% 34.61% 11.86%
Top 5 – 186,788,790 268,484,400 0.00% 0.00% 72.88% 25.14%
Top 10 31,601,700 231,273,820 318,490,860 65.75% 59.17% 90.24% 29.82%
Top 20 (4) 51,965,100 254,858,050 343,455,450 99.94% 97.30% 99.44% 32.15%
Top 25 (5) 52,205,100 255,098,050 343,695,450 99.94% 97.75% 99.53% 32.18%
Notes:
(1) Represents the subscription level as a percentage of the total number of Shares allocated under the International
Offering without taking into account the subscription by successful applicants under the Hong Kong Public
Offering.
(2) This includes 2 successful applicants under the Hong Kong Public Offering.
(3) This includes 6 successful applicants under the Hong Kong Public Offering.
(4) This includes 3 successful applicants under the Hong Kong Public Offering.
(5) This includes 8 successful applicants under the Hong Kong Public Offering.


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20
In view of the high concentration of shareholding in a small number of H Shareholders,
H Shareholders and prospective investors should be aware that the price of the H Shares
could move substantially even with a small number of H Shares traded, and should exercise
extreme caution when dealing in H Shares.