Grandway Advised Shandong Pharmaceutical Glass on Its PIPE Financing Approved by CSRC

On August 8, 2022, Shandong Pharmaceutical Glass Co., Ltd.’s application for a non-public offering of shares (“Shandong Pharmaceutical Glass”) was unconditionally approved by the Issuance Appraisal Committee of CSRC without hearing.

The total amount of funds to be raised by Shandong Pharmaceutical Glass for this issue will not exceed RMB 1,866,494,700 (inclusive), which is intended to be used for Shandong Pharmaceutical Glass’s first grade water-resistant pharmaceutical glass bottles and the expansion and renovation project of annual production capacity of 560 million pre-filled syringes. The implementation of the fund raising will help optimize the product structure of Shandong Pharmaceutical Glass, enhance the competitiveness and realize the stable and sustainable development.