Chuzhou Kangjin Health Industry Development Co., Ltd. announced a private placement for gross proceeds of CNY 321,910,000 on June 1, 2022. The transaction will include participation from returning investors Konka Group Co., Ltd. for CNY 157,735,900 and Shanghai Overseas Chinese Town Investment Development Co., Ltd for CNY 164,174,100. Pursuant to the transaction, the registered capital of the company will increase from CNY 30,000,000 to CNY 351,910,000.

The transaction has been approved in Konka Group Co.,Ltd fifty-ninth meeting of the ninth board of directors.