NanHua Bio-medicine Co., Ltd announced that it has signed a share subscription agreement to issue not more than 18,449,197 shares at a price of CNY 14.96 per share for gross proceeds of not more than CNY 276,000,000 on March 22, 2022. The transaction will include participation from returning investor Hunan Chasing Fund Management Co., Ltd. The transaction has been approved in the 5th Meeting of the Company's 11th Directorate, and is subject to the approvals of the Authorized State-owned Assets Supervision and Administration Agency, the Company's Shareholders, and the China Securities Regulatory Commission. The securities will be subject to a hold period of 18 months from the date of issuance.