Star Lake Bioscience Co., Inc.Zhaoqing Guangdong announced a private placement to issue A shares for gross proceeds of not exceeding CNY 1,500,000,000 on March 20, 2022. The issue price is not less than 80% of the average trading price during the 20 trading days prior to the pricing base date. The shares subscribed in this raising of supporting funds must not be transferred within 6 months after issuance.

The transaction has been approved at the 14th session of the company's 10th directorate. The transaction is still subject to the approval of the company's shareholders' meeting and China Securities Regulatory Commission.