Shanghai Kaibao Equity Investment Management Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 60 million on August 25, 2020. The transaction will include participation from returning investor Shanghai Kaibao Pharmaceutical CO.,Ltd (SZSE:300039). The transaction has been approved at the twelfth meeting of the fourth directorate and the tenth meeting of the fourth board of supervisors. As a result, the registered capital of the target company will increase to CNY 160 million.