Zhejiang Ausun Pharmaceutical Co., Ltd. announced a private placement of not more than 28,704,764 A shares for gross proceeds of not more than 500,000,000 on March 8, 2022. The transaction was approved by the board of directors of the company at its seventh meeting of the third supervisory and ninth meeting of the third directorate and is subject to company's general meeting of shareholders and the approval of the China Securities Regulatory Commission.