Sichuan Chunsheng Pharmaceutical Group Co., Ltd. announced that it will receive CNY 56,795,264.72 in an equity round of funding through capital increase from new investor to acquire 51% stake in the company on November 29, 2022. The company will issue 15,820,408 shares at an issue price of CNY 3.59 per share. After the completion of this transaction, the total share capital of will be changed from 15,200,000 shares 31,020,408 shares.

The transaction has been approved the fourth meeting of the fifth board of directors and still needs to be submitted to the company's first extraordinary general meeting of shareholders in 2022 for deliberation.