Beijing Walvax Innovation Biotechnology Co., Ltd. announced a private placement of common shares for the gross proceeds of CNY 580,000,000 on May 26, 2021. The transaction will include participation from existing investor Walvax Biotechnology Co., Ltd. (SZSE:300142). Post completion of transaction, the registered capital of the company will increase from CNY 80,000,000 to CNY 660,000,000. The transaction has been approved by 14th Meeting of the President's Office of 2021 of Walvax Biotechnology Co., Ltd.