Beijing Wandong Medical Technology Co., Ltd. announced that it has entered into a conditional and effective share subscription agreement with existing investor Midea Group Co., Ltd. for private placement of not less than 108,163,240 A shares and not more than 162,244,859 A shares at a price of CNY 12.84 per share for gross proceeds of not less than CNY 1,388,816,000 and not more than CNY 2,083,224,000 on July 5, 2021. The transaction is approved by the 2nd meeting of 9th board of directors, board of supervisors and audit committee of the company. The transaction is subject to approval of company's shareholders and the China Securities Regulatory Commission.