Shanghai Tianchen Health Management Co., Ltd. announced a private placement to issue common shares for gross proceeds of CNY 300,657,534.25 on May 26, 2021. The transaction will include participation from returning investor, Shanghai Tianchen Co., Ltd for CNY 255,558,904.11 to retain 85% stake in the company, Shanghai Kexun Investment Management Co., Ltd. for CNY 24,804,246.57 to retain 8.25% stake in the company and Shanghai Fengying Enterprise Development Co., Ltd. for CNY 20,294,383.57 to retain 6.75% stake in the company The registered capital will increase from CNY 1,004,342,465.75 to CNY 1,305,000,000. The transaction has been approved by the 9th meeting of the company's 10th board of directors and still needs to be submitted to the company's shareholders meeting for deliberation.