Sichuan Fengshan Biotechnology Co., Ltd. announced that it will issue common shares for gross proceeds of CNY 500,000,000 on July 16, 2022. The transaction will include participation from returning investor, Jiangsu Fengshan Group Co.,Ltd to acquire 100% stake in the company. The company will pay issuance cost of CNY 10,211,320.75 in the transaction and net raised funds will be CNY 489,788,679.25.

The registered capital of the company will increase from CNY 100,000,000 to CNY 589,788,679.25. The transaction has been approved at the 14th meeting of the 3rd board of directors and 14th meeting of the 3rd supervisory committee of the company.