Shenyang Xingqi Pharmaceutical Co.,Ltd. announced a private placement to issue 73,604,683 A shares at an issue price of not be less than eighty percent of the average trading price of the company's stocks over the twenty trading days prior to the pricing reference date for gross proceeds of CNY 850,000,000 on May 27, 2025. The transaction has been approved by 9th meeting of the 5th board of directors of the company and must be approved by the shareholders' meeting of the Company, reviewed and approved by the Shenzhen Stock Exchange, and receive a registration approval decision from the China Securities Regulatory Commission before implementation. After completing the above approval procedures, the Company will apply to the Shenzhen Stock Exchange and the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. for the issuance, registration, and listing of the shares, completing all reporting and approval procedures for this issuance of shares to specific targets.
There is uncertainty regarding whether the above reporting matters will receive registration approval and the timing of obtaining such approval. Investors are advised to pay attention to the approval risks. The shares subscribed by the issuance targets in this offering shall not be transferred within 6 months from the end of the issuance.
