Beijing Scitop Bio-tech Co., Ltd. announced that it has signed a share subscription agreement for a private placement of not more than 37,000,000 shares for gross proceeds of not more than CNY 700,000,000 on April 24, 2022. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from 35 investors including Sun Tiansong.

All securities issued in the transaction to Sun Tiansong have a hold period of 36 months and have 6 months hold period for others. The transaction has been approved in the 15th meeting of the company's 2nd directorate, and is subject to the approvals of the Company's Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.