Ningbo Menovo Pharmaceutical Co., Ltd. signed a Share Subscription Agreement to issue 64,020,318 A Shares Pre-Plan at an issue price of CNY 10.184266 per A Shares Pre-Plan for the gross proceeds of CNY 651,999,948 on July 20, 2023. The transaction will include participation from new investor Ningbo Menovo Holding Group Co., Ltd and 34 other investors. The transaction has been approved in the 20th Meeting of the Company?s 4th Directorate, and is subject to the approvals of the Company?s Shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.