Beijing Shunjing Biomedical Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 40,000,000 on May 25, 2021. The transaction will include participation from existing investor Beijing Hotgen Biotech Co., Ltd. for CNY 22,000,000 to retain 55% stake in the company, individual investors, Lin Changqing for CNY 14,000,000, and Sun Zhiwei for CNY 4,000,000 to retain 35% and 10% stake in the company respectively. The transaction has been approved in the 25th meeting of the 2nd directorate of Beijing Hotgen Biotech Co., Ltd,and does not need the shareholders' approval.

The registered capital will increase from CNY 10,000,000 to CNY 50,000,000.