Hubei Zhongxing Bio-technology Co., Ltd. announced a private placement of gross proceeds CNY 70 million in a round of funding from returning investor Tianshui Zhongxing Bio-technology Co.,Ltd. (SZSE:002772) on May 24, 2021. The company will issue common shares in the transaction. On post completion, the investor will still hold 100% stake in the company. The registered capital of company will be increased from RMB 50 million to 120 million. The company announced that it has received approval at the third meeting of the fourth board of directors .