Kangmei Pharmaceutical: Intends to raise 3.493 billion Hong Kong dollars through a rights issue.

On the morning of August 28th, Kangfang Biotech announced on the Hong Kong Stock Exchange that the placement agent has conditionally agreed to place or cause to place 23.55 million shares of primary placement shares at a placement price of 149.54 Hong Kong dollars per share during the placement period. Assuming all primary placement shares are successfully placed, the estimated total proceeds and net proceeds from the primary placement are approximately 3.52167 billion Hong Kong dollars and approximately 3.49301 billion Hong Kong dollars, respectively. 80% of the net proceeds from the placement will be used for the innovation research and development pipeline, platform, and global and Chinese infrastructure, 10% will be used for the commercialization of existing approved products, and 10% will be used for general corporate purposes.