Huanggang Yongan Pharmaceutical Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 30,000,000 from new investor Qianjiang Yongan Pharmaceutical on May 23, 2023. The company's holdings will drop from 100% to 93.4783%. The company will pay the full amount within 5 working days after the agreement signing.

The transaction has been approved by 16th Meeting of the Company's 6th Directorate and the 15th Meeting of the Company's 6th Supervisory Board. The company doesn't need the shareholders approval.