Xinxiang SLP Pharmaceutical Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 30 million on January 9, 2021. The transaction will include participation from returning investors Beijing SL Pharmaceutical Co., Ltd. (SZSE:002038) for CNY 21 million and Xinxiang Chemical Fiber Co., Ltd. (SZSE:000949) for CNY 9 million to retain their 70% and 30% stake in the company respectively. The capital of the company will increase from The transaction has been approved at the 16th interim meeting of the 7th board of directors and the 7th board of supervisors.