Zhejiang Shapuaisi Pharmaceutical Co.,Ltd. announced a private placement of not more than 94,191,522 shares at an issue price of CNY 6.37 per share for a gross proceeds of not more than CNY 600,000,000 on December 17, 2020. The transaction will include participation from returning investors Shanghai Yanghe Investment Management Co., Ltd. and Lin Hongyuan, Controller in the company, for not exceeding CNY 300,000,000 each. All securities to be issued pursuant to the transaction are subject to a hold period of 36 months from the end of issuance. The transaction has been approved by the board of directors in its seventeenth interim meeting of the fourth board of supervisors.