Nanjing Hicin Pharmaceutical Co., Ltd. announced a private placement of not more than 36,000,000 A shares for gross proceeds not more than CNY 400,000,000 on June 10, 2022. The issuance price of shares must not be lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing benchmark date. The transaction will include participation from not more than 35 investors. The transaction has been approved in the 21st session of the 3rd board of director meeting. The transaction is still subject to approval by the company's general meeting of shareholders, Shenzhen Stock Exchange and China Securities Regulatory Commission. The resolution of this issuance is valid for 12 months from the date of deliberation. The shares issued shall not be transferred within 6 months from the date of the issuance.

On August 23, 2022, the company announced that the application for issuance of stocks to specific objects has been accepted by Shenzhen Stock Exchange.