Wuhan Hiteck Biological Pharma Co.,Ltd announced a private placement to issue not more than 36,631,249 A shares for an aggregate gross proceeds of not more than CNY 300,000,000 on August 31, 2022. The company shall issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from no more than 35 investors.

The shares to be issued shall have a hold period of 6 months from closing of the transaction. The transaction has been approved at the 6th Meeting of the 8th directorate 2022. The transaction is still subject to approval from the company's directorate, Shenzhen Stock Exchange and the China Securities Regulatory Commission.

The company authorized the Directorate to implement a private placement of shares on May 18, 2022.