Guangdong Hec Pharmaceutical Co., Ltd. announced a private placement of common shares for he gross proceeds of CNY 13,943,215 on June 25, 2023. The transaction will include participation from new investors Yichang HEC Pharmaceutical Research and Development Co., Ltd. for 126,238,500 shares for 28.0534% stake, Guangdong HEC Technology Holding Co., Ltd for 50,989,649 shares for 11.3310% stake, Yidu Shuai Xinwei Equity Investment Partnership (Limited Partnership) for 30,607,250 shares for 6.8016% stake, HEC Sunshine Enterprise Management Partnership (Limited Partnership) for 13,595,563 shares for 3.0212% stake, Guangdong Advanced Manufacturing Industry Investment Fund Partnership (L.P.) managed by Guangdong Hengjian Emerging Industry Investment Fund Management Co., Ltd. for 13,199,575 shares for 2.9332% stake, Yidu Yingfang Equity Investment Partnership (Limited Partnership) for 11,477,892 shares for 2.5506% stake, Yidu Fangwenwen Equity Investment Partnership (Limited Partnership) for 11,477,892 shares for 2.5506% stake, China Cinda Asset Management Co., Ltd. for 10,239,236 shares for 2.2754% stake and Jiaxing Xingshengdongyan Investment Partnership (Limited Partnership) for 9,679,689 shares for 2.1510% stake and returning investor Shenzhen HEC Industrial Development Co., Ltd. for CNY 750,000,000 for 58,790,537 shares for 13.0646% stake. The transaction has been approved at the twenty-ninth meeting of the eleventh session of the board of directors.