Shanghai Haishun New Pharmaceutical Packaging Co.,Ltd. announced a private placement to issue not more than 46,958,940 A shares for gross proceeds of not more than CNY 601,600,000 on October 8, 2020. The transaction will not include participation from more than 35 investors. The shares subscribed by specific investors shall not be transferred within six months from the date of completion of the issuance.

The transaction has been approved at the fifth meeting of the fourth board of directors of the company, and is subject to approvals to company's shareholders meeting, Shenzhen Stock Exchange, and China Securities Regulatory Commission.