Shanghai Labway Clinical Laboratory Co., Ltd. announced a private placement of not more than 40,051,700 shares for proceeds of not more than CNY 664,494,200 on September 1, 2022. The transaction has been approved by the ninth meeting of the third board of directors of the company, and still needs the approval of the company's general meeting of shareholders, the review and approval of the Shenzhen Stock Exchange, and the approval of the China Securities Regulatory Commission for registration. The transaction will include participation from not more than 35 investors. The securities issued will be subject to a six months hold period.

On October 24, 2022, the company announced that it has received “Notice on Acceptance of Shanghai Labway Clinical Laboratory Co., Ltd.'s Private Placement Application Documents” (Acceptance [2022] No. 512) issued by the Shanghai Shenzhen Stock Exchange, having reviewed and decided to accept its private placement application.