Hangzhou TianMuShan Pharmaceutical Enterprise Co.,Ltd announced that it has entered into a share subscription agreement to issue not more than 36,533,540 A shares at an issue price of CNY 7.62 per share for the gross proceeds of not more than CNY 278,385,574.80 on August 18, 2023. The transaction will include participation from new investor Qingdao Huilong Huaze Investment Co., Ltd. The transaction has ben approved in the 19th Meeting of the Company?s 11th Directorate, and 15th Meeting of the 11th Supervisory Board and is subject to the approvals of the Company?s Shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission. The shares cannot be transferred within 36 months from the issuance closing date.