Baolingbao Biology Co.,Ltd. announced a private placement of up to 90,000,000 shares at CNY 7.91 per share for gross proceeds of up to CNY 711,900,000 on July 13, 2021. The transaction included participation from Ganzhou Zhongke Yongyu Investment Management Center (Limited Partnership) for 22,274,802 shares, Shenzhen Zhongke Yongyu Technology Partnership Enterprise (Limited Partnership) for 22,274,802 shares, returning investor Beijing Yongyu Investment Management Co., Ltd. for 45,450,396 shares. The company signed a subscription agreement with the investors.

The shares have a lock up period of 18 months after the issuance completion date. The transaction was approved in the 3rd session of the company's 5th directorate. The transaction still needs to be approved by the company's shareholders' meeting and CSRC.