Suzhou Medical Device Industrial Development Group Co., Ltd. announced a private placement of shares at the price of CNY1.12 gross proceeds of CNY 330 million on July 21, 2022. The transaction included participation from Suzhou New District Hi-Tech Industrial Co.,Ltd. for 51.37% in the company. The transaction was approved by the 3rd session of the company's 10th directorate, and still needs to be approved by the company's shareholders' meeting and State-owned Assets Supervision and Administration Department.