Hainan Shuangcheng Pharmaceutical Co., Ltd. (SZSE:002693) announced a private placement of up to 74,318,744 A shares at no less than CNY 12.11 per share for gross proceeds of up to CNY 900,000,000 on January 31, 2015. The transaction will include participation from 10 designated investors. The transaction has been approved in its 18th meeting of the 2nd directorate and 13th meeting of the 2nd supervisory board and is still subject to shareholders' approval and China Securities Regulatory Commission approval. The shares to be subscribed cannot be traded or transferred within 12 months from the issuance date.

On March 3, 2015, the company announced that the transaction has been approved its 2nd extraordinary general meeting of 2015.

On March 12, 2015, the company announced that it has amended the terms of transaction. The company will now issue 112,359,550 A shares at minimum CNY 8.01 per share for gross proceeds of CNY 899,999,995.5.