ShanXi C&Y Pharmaceutical Group Co., Ltd. announced that it has signed the subscription agreement and a private placement to issue 35,171,102 A shares at an issue price of CNY 5.26 per share for the gross proceeds of not more than CNY 184,999,997 on June 30, 2023. The transaction will include participation from Jiangsu Vega Technology Co., Ltd. CNY 150,000,000 and Zhao Qun for CNY 35,000,000. The transaction has been approved in the 6th Meeting of the 5th Directorate and the 4th Meeting of the 5th Supervisory Board and is subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.

The shares cannot be transferred within 18 months from the issuance closing date.