Suzhou MedicalSystem Technology Co., Ltd. announced that it has entered into agreement for a private placement of not more than 16,546,349 A shares at a price of CNY 14.44 per share for gross proceeds of not more than CNY 238,929,279.56 on May 23, 2022. The transaction will include participation from Mianyang Haoxiang Holdings Co., Ltd. The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved by the board of directors of the company at its 27th meeting of 3rd Directorate, 20th meeting of the 3rd supervisory board and is subject to the approvals of the shareholders of the company, the China Securities Regulatory Commission, and other necessary government institutions.