Yunnan Fuya Biotechnology Co., Ltd. announced that it has signed an agreement to receive CNY 80,000,000 in a round of funding on December 16, 2021. The transaction included participation from Hunan Fangsheng Pharmaceutical Co., Ltd. for CNY 50,000,000 and Hong Kong TongSheng Industrial Co., Ltd. for CNY 30,000,000. The transaction has been approved at the thirteenth extraordinary meeting of the fifth board of directors in 2021 of Hunan Fangsheng Pharmaceutical Co., Ltd. On closing, the registered capital of the company will increase from CNY 20,000,000 to CNY 100,000,000.

The first tranche should be completed within 10 days from the date of announcement.