Xiangxue Pharmaceutical Co.,Ltd. announced a private placement to issue not more than 198,383,713 A shares pre-plan for gross proceeds of not more than CNY 959,884,000 on August 2, 2023. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction included participation from not more than 35 investors.

The shares cannot be transferred within 6 months from the issuance closing date. The transaction has been approved at the 13th meeting of the company?s 9th directorate, and is subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.