Jiangsu Kanion Pharmaceutical Co. Ltd. (SHSE:600557) announced a private placement of 20,190,000 common shares at a price of CNY 17.8306 per share for gross proceeds of up to CNY 360,000,000 on January 18, 2013. The transaction will include participation from new investors; Jiangsu Kangyuan Group Co., Ltd. will subscribe to 6,730,300 shares, and will gain 6.08089% stake and another investor, China Universal Asset Management Co., Ltd. through Kangyuan Asset Management Plan, which will subscribe to 13,460,400 shares in the transaction. The transaction has been approved at the 22nd session of the 4th directorate meeting of the company. The shares shall not be transferred within 36 months after the issuance. The transaction still needs to be approved by the shareholders' meeting and by China Securities Regulatory Commission.

On February 5, 2013, the company announced that the board of directors of the company approved the proposal of scheme of issuance of shares, proposal on signing contract on shares subscription with collateral entry-into-force conditions, and proposal of report on feasibility analysis of usage of funds being raised. The transaction has been approved at 2013 First Extraordinary General Shareholders Assembly of the company.

On May 13, 2013, the company announced that the proposal of adjusting issuance price of the transaction was approved in the 25th session of fourth directorate meeting of the company. The company adjusted the issue price of transaction to CNY 17.76 per share. The company will raise CNY 358,586,832 in this transaction now.

On August 7, 2014, the company announced that it has amended the terms of the transaction. The company will now issue 14,931,572 shares at a price of CNY 24.11 per share for CNY 360,000,200. Jiangsu Kangyuan Group Co., Ltd. will subscribe to 4,977,242 shares to acquire 0.9689% stake and China Universal Asset Management Co., Ltd. will subscribe to 9,954,330 shares to acquire 1.9377% stake. The transaction has been approved at 6th special meeting of the 5th directorate meeting of the company.

On August 25, 2014, the company announced that the transaction was approved at the 1st special shareholders meeting of 2014.

On September 29, 2014, the company announced that the transaction was approved at the 8th special meeting of the 5th directorate of 2014.

On October 22, 2014, the company announced that the transaction has been approved by the China Securities Regulatory Commission.

On November 27, 2014, the company announced it has received a written reply of the approval for the transaction from the China Securities Regulatory Commission.