Jiangsu Aoyang Health Industry Co.ltd. announced a private placement of not more than 229,719,700 shares at an issue price of not be lower than 80% of the average trading price of the company's stock in the 20 trading days prior to the pricing base date for the gross proceeds of CNY 275,000,000 on April 10, 2023. The transaction will include participation from not more than 35 investors. All the securities shall not be transferred within 6 months from the date of completion of the issuance.

The transaction has been approved in the the eleventh meeting of the company's eighth board of directors and is still subject to be reviewed and approved by the company's general meeting of shareholders, reviewed and approved by the Shenzhen Stock Exchange, and approved by the Shenzhen Stock Exchange.