Fujian Aonong Biological Technology Group Incorporation Limited announced a private placement of not more than 261,317,466 A shares for gross proceeds of not more than CNY 1,800,000,000 on November 25, 2022. The transaction will include participation from no more than 35 specific investors. The stocks subscribed shall not be transferred within 6 months from the date of completion of the transaction.

The transaction has been approved at seventeenth meeting of the third board of directors and still needs to be approved by the company's general meeting of shareholders and by the China Securities Regulatory Commission.