Xinxiang Pharmaceutical Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 235,456,400 on November 10, 2021. The transaction will involve participation from existing investor, Xinxiang Tuoxin Pharmaceutical Co.,Ltd. Post-closing of the transaction, the investor with its directorate or indirectly will retain its 100% stake in the company. Out of the total amount received, the company will receive CNY 75,000,000 in its registered capital.

Post-closing, the registered capital of the company will increase from CNY 50,000,000 to CNY 125,000,000. The transaction has been approved by the 7th session of the 4th directorate and the 4th session of the 4th supervisory board of directors of Xinxiang Tuoxin Pharmaceutical Co.,Ltd.