Chengdu Huasun Technology Group Inc., Ltd. announced a private placement of common shares on June 20, 2023. The company will issue not more than 30% of total share capital to not more than 35 investors, including new investor Chengdu Yuanhong Biological Technology Co., Ltd., and the shares will be priced at not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares issued cannot be transferred within 36 months from the issuance closing date for Chengdu Yuanhong Biotechnology Co., Ltd. and cannot be transferred for 6 months for other investors.

The transaction has been approved at 31st meeting of the company?s 12th directorate and the 22nd meeting of the 12th supervisory board., and subject to approval of shareholders, Shenzhen Stock Exchange?s, and the China Securities Regulatory Commission.