Shaanxi Panlong Pharmaceutical Group Limited By Share Ltd announced a private placement of no more than 26,000,000 A shares for gross proceeds of not more than CNY 302,000,000 on October 28, 2022. The transaction will include participation from not more than 35 special investors. The pricing base date will be the first day of issue period, and the issue price for the shares to be issued in the private placement shall not be less than 80% of the average stock price 20 trading days before the first day of the issue period.

All the securities issued in the transaction will subject to lock-up period is 6 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. The transaction has been deliberated and approved at the third meeting of the fourth directorate of the company and are subject to the approval of the company's shareholders meeting and the China Securities Regulatory Commission.