Zhejiang Assure Biological Engineering Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 251,394,300 on December 7, 2021. The transaction will involve participation from existing investor, Assure Tech (Hangzhou) Co., Ltd. Post-closing of the transaction, the investor will retain its 100% stake in the company. Out of the total amount received, the company will receive CNY 40,000,000 in its registered capital and CNY 211,394,300 in its capital reserve.

Post-closing, the registered capital of the company will increase from CNY 20,000,000 to CNY 60,000,000. The transaction has been approved by the eighteenth meeting of the first board of directors and the sixth meeting of the first board of supervisors of Assure Tech (Hangzhou) Co., Ltd.