Guizhou Yibai Traditional Chinese Medicine Formula Granules Pharmaceutical Co., Ltd. announced that it will receive CNY 179,853,900 in an equity round of funding on June 29, 2022. The transaction included participation from returning investor Guizhou Yibai Pharmaceutical Co., Ltd., new investor Guizhou Province Agricultural and Rural Modernization Development Equity Investment Fund Partnership. Post transaction investors will hold 59.97% stake and 40.03% stake in the company.

The transaction has been approved by the board of directors of Guizhou Yibai Pharmaceutical Co., Ltd. in its19th meeting of the 7th board of directors and the 16th meeting of the 7th board of supervisors and is subject to shareholders resolution. As part of transaction the registered capital of the company will increase from CNY 20,000,000 to CNY 199,853,900.