Ningbo Buchang Medical Technology Co., Ltd. announced a placement of common shares for gross proceeds of CNY 3,000,000 on June 27, 2023. The transaction will include participation from returning investors, Shandong Buchang Pharmaceuticals Co., Ltd., Shaanxi Deju Bowen Health Technology Co., Ltd., individual investors, Wang Yiqiang, Zhang Ying, Ren Rongbo, Wang Yimin, Xue Renhui and Zhao Mo maintaining their respective stakes. The transaction has been approved by the 40th meeting of the 4th board of directors of Shandong Buchang Pharmaceuticals Co., Ltd. and does not need to be submitted to the general meeting of shareholders for consideration and approval.

A formal agreement for the deal has yet to be signed. Through the transaction, the company's registered capital will increase from CNY 5,000,000 to CNY 8,000,000.