Zhejiang Starry Pharmaceutical Co.,Ltd. announced a private placement of 102,874,331 A shares at a price of not lower than 80% of the average trading price of the company's shares for the gross proceeds not exceeding CNY 2,050,000,000 on August 26, 2022. The transaction will involve participation from not more than 35 specific investors. The shares have a hold period of 6 months from the date of issuance. The company may incur expenses in the transaction. The transaction has been approved by the board of directors of the company at the twenty-fifth meeting of the fourth board of directors of the company and still needs the approval of its shareholders and China Securities Regulatory Commission.

On May 30, 2023, the company announced that it has received Notice on Acceptance of its private placement application Documents (Acceptance [2023] No. 353) issued by the Shanghai Stock Exchange and decided to accept the private placement application.