JiangSu WuZhong Pharmaceutical Development Co., Ltd. signed share subscription agreement for a private placement of 54,347,826 A shares at the price of CNY 5.52 per share for gross proceeds of CNY 300,000,000 on November 11, 2021. The transaction will include participation from Suzhou Fuji Suwu Pharmaceutical Technology Partnership Enterprise (Limited Partnership). The shares cannot be transferred within 18 months from the issuance closing date.

The transaction has been approved in the 3rd extraordinary meeting of 2021 of the company's 10th directorate and is subject to the approvals of the company's shareholders and the China Securities Regulatory Commission.