Financing Update - Yimutian Inc. announced an update to its financing plan, maintaining a private placement of up to US$30.0 million of senior convertible promissory notes, with an initial closing of US$3.37 million completed in December 2025 [1] - The company has decided not to proceed with a proposed follow-on public offering due to current market conditions and will request withdrawal of the registration statement filed with the SEC [2][4] Capital Structure and Strategy - The company believes that maintaining flexibility under its existing private financing arrangement is prudent given the prevailing market conditions and current capital planning priorities [4] - Yimutian Inc. will continue to evaluate financing alternatives and capital planning initiatives to support long-term growth, liquidity, and shareholder value [4] Company Overview - Yimutian Inc. is a leading agricultural B2B platform in mainland China, focused on digitalizing the agricultural product supply chain to enhance transaction efficiency, transparency, security, and convenience [7]

Company Announcement - Yimutian Inc. announced the resignation of independent director Junchen Sun from the Board of Directors, effective March 17, 2026, due to personal reasons [1] - The Company and the Board expressed gratitude for Mr. Sun's service and contributions during his tenure [1] Governance Process - The Nominating and Corporate Governance Committee will oversee the process of identifying a potential replacement for the resigned director [2] - The Company will ensure appropriate disclosures are made in accordance with applicable laws and regulations [2] Company Overview - Yimutian Inc. is a leading agricultural B2B platform in mainland China, focused on digitalizing the agricultural product supply chain infrastructure [3] - The Company aims to streamline the agricultural product transaction process, making it efficient, transparent, secure, and convenient [3]

Core Insights - The company reaffirms its long-term value conviction and outlines a strategic update for 2026, including capital plans and financial outlook [1] - Management commits to purchasing at least US$3 million of the company's shares in the open market and has established a twelve-month lock-up on existing holdings [2] - The company expects total revenue of approximately RMB 1.0 billion for 2026, driven by core operations and the pending Xunxi acquisition [3] Capital and Financial Commitments - The company has a US$30 million convertible note facility, with the initial tranche of US$3.3 million already funded [2] - A formal share repurchase program is being developed to provide a structured mechanism for capital return alongside management's personal purchases [2] Business Operations and Growth - The core business growth is supported by online-to-offline integration, geographic expansion, supply chain digitization, and partnerships with supermarket operators and livestreaming platforms [3] - The contribution from the Xunxi acquisition is contingent on its closing, which is expected in the near term [3] Company Overview - Yimutian Inc. is a leading agricultural B2B platform in mainland China, focused on digitalizing the agricultural product supply chain to enhance efficiency and transparency [5]

Core Viewpoint - Yimutian Inc. and BC Technology have signed a strategic cooperation agreement to enhance the digital transformation of global agricultural trade through collaboration in cross-border payment, agricultural RWA product development, and new business scenarios [1][4][6]. Group 1: Strategic Cooperation - The cooperation will leverage Yimutian's agricultural industry resources and BC Technology's digital asset services to promote the digital transformation of agricultural trade [1]. - Yimutian plans to purchase no less than US$12 million worth of digital assets in three batches to optimize cross-border trade capital flow for agricultural products [4]. - The partnership aims to create innovative benchmarks for integrating the agricultural industry with digital assets [1][4]. Group 2: Agricultural RWA Market Potential - The global RWA market is projected to reach US$16 trillion by 2030, with significant potential in the agricultural sector [2]. - In China, there are many dormant agricultural assets that can be unlocked through asset digitization, addressing financing and supervision issues [2]. Group 3: Yimutian's Role and Services - Yimutian is the largest agricultural B2B digital service enterprise in China, serving nearly 60 million users across over 2,800 counties with more than 15,000 types of agricultural products [3]. - The company focuses on transforming and upgrading the rural industry through digital technology, streamlining the agricultural product transaction process [9]. Group 4: Areas of Focus in Cooperation - In cross-border payment, the focus will be on compliant digital payment solutions to enhance efficiency in global agricultural trade [4]. - For agricultural RWA product innovation, Yimutian will provide high-quality agricultural products as underlying assets, while BC Technology will assist in product design and compliance [5]. - The exploration of new business scenarios will include cross-border trade of agricultural products and international order-based cultivation [6]. Group 5: Leadership Insights - The CEO of Yimutian emphasized the importance of digital transformation in global agricultural trade and the alignment of BC Technology's capabilities with Yimutian's strategic needs [7]. - The cooperation is seen as a way to transform traditional agricultural assets into products for the international market, enhancing the value realization model from field assets to the global capital market [7].

Group 1 - Yimutian Inc. has priced its initial public offering (IPO) of 5,010,000 American depositary shares (ADSs) at $4.10 per ADS, totaling approximately $20.541 million [1] - The company is offering 4,522,000 ADSs, while selling shareholders are offering 488,000 ADSs, with an option for the underwriter to purchase an additional 678,300 ADSs [1] - The ADSs are approved for listing on Nasdaq under the symbol "YMT" and are expected to begin trading on August 19, 2025 [3] Group 2 - The net proceeds from the IPO will be used for enhancing digital agricultural commerce services, developing technological infrastructure, expanding agricultural sourcing and trading services, and for working capital [2] - As of March 31, 2025, Yimutian served over 39 million merchants and hosted approximately 21 million SKUs, indicating strong market engagement [7] - The company has connected over 770,000 sellers and over 6 million buyers in 2024, showcasing its robust transaction volume [7] Group 3 - Yimutian Inc. is a leading agricultural B2B platform in mainland China, focused on digitalizing the agricultural product supply chain to improve transaction efficiency and transparency [6] - The company offers a full suite of digital services, including transaction facilitation and settlement, and has ventured into smart farming and agricultural sourcing [8]