JiangSu WuZhong Pharmaceutical Development Co., Ltd. announced a private placement to issue 213,000,000 class A shares for gross proceeds of CNY 1,200,000,000 on April, 25, 2023. The transaction will include participation from new investor Zhejiang Fuji Holdings Group Co., Ltd. for not less than CNY 50,000,000 and 34 other investors. The securities issued to Zhejiang Fuji Holdings Group Co., Ltd are subject to a hold period of 18 months, and securities issued to other investors are subject to a hold period of 6 months.

This has been approved in the 7th Meeting of the company?s 10th Directorate. The transaction is subject to the approvals of the company?s shareholders, Shanghai Stock Exchange, and China Securities Regulatory Commission.