Jiangxi Synergy Pharmaceutical Co., Ltd. announced a private placement of not more than 64,917,134 A shares for gross proceeds of not more than CNY 1,100,000,000 on July 1, 2022. The transaction will include participation from not more than 35 investors. The issuance price is not less than 80% of the average price in the 20 trading days before the pricing reference date.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction was approved by the board of directors of the company at its 10th Meeting of 3rd directorate as well as the 8th Meeting of the 3rd supervisory board. The transaction is subject to the approvals of the company's shareholders, the Shenzhen stock exchange, and the China Securities Regulatory Commission.