On March 28, 2022, Shandong Xinhua Pharmaceutical Company Limited closed the transaction. The company has received gross proceeds of CNY 249,999,999 in the transaction. The company has paid issuance expenses of CNY 5,633,588.91 and received net proceeds of CNY 244,366,410 of which, CNY 37,091,988 included in share capital and CNY 207,274,422.21 into capital reserve.

Post the transaction, Hualu Investment Development Co., Ltd. will own 41,235,156 shares in the company, accounting for 6.16% stake.