Hunan Fangsheng Pharmaceutical Co., Ltd. announced that it has entered into a share subscription agreement for private placement of not more than 56,962,025 A shares at a price of CNY 4.74 per share for gross proceeds not more than CNY 269,999,999 on March 4, 2022. The shares cannot be transferred within 36 months from the issuance closing date. The transaction has been approved at the 4th extraordinary meeting of the company's 5th Directorate, and is subject to the approvals of the company's shareholders and the China Securities Regulatory Commission.