NanJing Pharmaceutical Company Limited announced that it has signed a share subscription agreement for a private placement of 251,256,281 shares at an issue price of CNY 3.98 per share for gross proceeds of not more than CNY 999,999,998 on September 10, 2021. The transaction will include participation from returning investor Nanjing XinGong Investment Group Co., Ltd. All securities issued in the transaction have a hold period of 36 months. The transaction has been approved in the 11th meeting of the 8th Board of Directors of the company and is still subject to approval from state-owned assets supervision and administration department, state-owned assets supervision and administration department and China Securities Regulatory Commission. On September 17, 2021, the company announced that it has received the investors approval on the plan to start the 2021 non-public issuance of A shares of the company.