Jiangsu Aoyang Health Industry Co.ltd. announced that it has signed a share subscription agreement with returning investor Aoyang Group Co., Ltd. for a private placement of not more than 74,074,074 A shares of par value of CNY 1 per share at an issue price of CNY 4.05 per share for gross proceeds of not more than CNY 299,999,999.7 on July 14, 2021. The number of shares to be issued is equal to not more than 30% of total share capital of the company. The shares cannot be transferred within 36 months from the issuance closing date. The transaction has been approved at the company's 28th and 29th extraordinary meeting of the 7th directorate and is subject to the approvals of the company’s shareholders and the China Securities Regulatory Commission. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. This issuance wont change the company control.