Suzhou Zelgen Biopharmaceuticals Co., Ltd. announced a private placement of not more than 36,000,000 shares for gross proceeds of not more than CNY 2,862,850,000 on November 25, 2021. The issuance price shall not be lower than 80% of the average price of the company’s stock trading on the 20 trading days before the pricing base date. The transaction will include participation from not more than 35 investors. The securities issued will be subject to hold period of six months from closing of issuance. The transaction has been approved at the 25th meeting of the first board of directors of the company, and is subject to approval from shareholders meeting, Shanghai Stock Exchange, and the China Securities Regulatory Commission.