Xinxiang SL Pharmaceutical Co., Ltd. announced that it will receive CNY 30,000,000 in an equity round of funding on January 8, 2021. The transaction will involve participation from returning investors, Xinxiang Chemical Fiber Co., Ltd. (SZSE:000949) for CNY 9,000,000 and Beijing SL Pharmaceutical Co., Ltd. (SZSE:002038) for CNY 21,000,000. The investors, Xinxiang Chemical Fiber Co., Ltd. (SZSE:000949), Beijing SL Pharmaceutical Co., Ltd. (SZSE:002038) will continue to retain its 30% and 70% stake respectively in the company.

The transaction has been approved by the 9th session of the 10th directorate and the 7th session of the 10th supervisory board of Xinxiang Chemical Fiber Co., Ltd. (SZSE:000949). Post completion of the transaction, the registered capital of the company will increase from CNY 60,000,000 to CNY 90,000,000. Prior to the transaction, Xinxiang Chemical Fiber Co., Ltd. (SZSE:000949) and Beijing SL Pharmaceutical Co., Ltd. (SZSE:002038) have invested CNY 18,000,000 and CNY 42,000,000 respectively, which post transaction will increase to CNY 27,000,000 and CNY 63,000,000 respectively.