PhaBuilder announced that it will receive CNY 95,000,000 in an equity round of funding on November 3, 2022. The transaction will include participation from new investors Sino Biological,Inc. for CNY 50,000,000 for 2.55% stake and Lhasa Ailike Investment Consulting Co., Ltd for CNY 30,000,000 for 2.3% stake. After this capital increase, the registered capital of the company will increase from CNY 7,791,327 to CNY 9,541,649, and the increased registered capital of CNY 1,750,322 will be subscribed by investors in round, accounting for 18.34% of the registered capital of the company after the capital increase.

The transaction has been approved by board of directors of Sino Biological,Inc. in its 19th meeting of the first board of directors and the 18th meeting of the first board of supervisors and this transaction does not need to be submitted to the company's general meeting of shareholders for approval. The company and investors agreed to sign an agreement.