Zhejiang Int'l Group Co.,Ltd. announced that it has entered into an agreement and will issue not more than 44,955,000 A shares at an issue price of CNY 10.01 per share for proceeds of CNY 449,550,000 in an equity round of funding on May 25, 2022. The transaction will include participation from new investor, Zhejiang CONBA Pharmaceutical Co.,Ltd. The shares will be subject to a hold period of 36 months. The transaction has been approved at the 19th session of the company's 10th directorate and is subject to approval from the shareholders', State-owned Assets Supervision and Administration Commission of Zhejiang Province (Preliminary approval on the AAIS), State-owned Assets Supervision and Administration Commission of Zhejiang Province (Final approval on the AAIS), China Securities Regulatory Commission, and Shenzhen Stock Exchange.