Zhejiang Shimai Pharmaceutical Co., Ltd. announced private placement of common shares for gross proceeds of CNY 30,000,000 from Betta Pharmaceuticals Co., Ltd. on January 23, 2022. Post the closing, the investor will own, 1.3453% stake in the company. The 50% of the total investment will be paid within 15 working days after the completion of the industrial and commercial change procedure of this investment and the certificate of fulfillment of delivery conditions issued by the company and its existing shareholders.

The transaction has been reviewed and approved at the 28th meeting of the third board of directors and the 22nd meeting of the third board of supervisors.