Chongqing Lummy Pharmaceutical Co., Ltd. announced a private placement of aggregate gross proceeds of not more than CNY 300 million on March 16, 2023. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall not be transferred within 6 months from closing of the transaction. The transaction has been approved by the twenty-eighth meeting of the fifth session of the board of directors of the company.