Sinopep-Allsino Bio Pharmaceutical Co.,Ltd. announced a private placement to issue common shares for an aggregate gross proceeds of not more than CNY 300 million on April 21, 2023. 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 18 months from closing of the transaction. The transaction has been approved by the tenth meeting of the third session of the board of directors and still needs to be approved by Shanghai Stock Exchange and China Securities Regulation Commission.