BEIJING, March 25, 2026 (GLOBE NEWSWIRE) -- Yimutian Inc. (NASDAQ:YMT) (the "Company") today announced an update to its recent financing plan. The Company's previously announced private placement of up to US$30.0 million of senior convertible promissory notes with an institutional investor (the "Convertible Notes") remains in effect in accordance with its terms. The initial closing of US$3.37 million was completed in December 2025, and the Company expects to conduct additional closing(s) under that facility, subject to customary closing conditions.

In addition, after further evaluating current market conditions, its capital structure and expected financing costs, the Company has decided not to proceed with the proposed follow-on public offering contemplated by its registration statement on Form F-1 filed with the U.S. Securities and Exchange Commission (the "SEC") on February 23, 2026. The Company intends to request withdrawal of that registration statement and terminate the proposed offering. No securities have been sold pursuant to that registration statement.

For the avoidance of doubt, the Company's separate resale registration statement on Form F-1 filed with the ...