Chalkis Health Industry Co., Ltd. announced private placement of no more than 231,385,073 A shares at a price of CNY 2.17 for gross proceeds not more than CNY 502,105,608 on June 29, 2020. The transaction will include participation from Changzhou Zhongyi Venture Investment Partnership (Limited Partnership). The issuance price will be not lower than 80% of the average price of the company’s shares as of 20 trading days since issuance date. The company will issue not more than 30% of the total share capital prior to the transaction. The shares issues will have a hold period of 18 months from the date of closing. The transaction has been approved by the board of directors of the company at twenty-seventh interim meeting of the eighth directorate and is subject to shareholder and China Securities Regulatory Commission approvals. The transaction will be valid for 12 months since approval from the shareholders’ meeting of the company.