ShanXi C&Y Pharmaceutical Group Co., Ltd. announced a private placement of not more than 30,000,000 shares for gross proceeds of not more than CNY 130,000,000 on August 27, 2021. The transaction will include participation from not more than 35 investors, and each investor can subscribe with no more than CNY 30,000,000. The shares cannot be transferred within 6 months from the issuance closing date.

The issue price of shares cannot be less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction has been approved by the board of directors in its 24th Meeting of the 4th Directorate and is subject to the approvals of the Shenzhen Stock Exchange and the China Securities Regulatory Commission.