Shanghai Wolwo Stem Cell Technology Co., Ltd. announced that it has signed an agreement to issue common shares for gross proceeds of CNY 400,000,000 on April 20, 2023. The transaction will include participate from returning investor, Zhejiang Wolwo Bio-Pharmaceutical Co., Ltd. will invest CNY 314,218,400, individual investors, Feng Huijuan will invest CNY 13,197,160, Feng Zhijuan will invest CNY 21,995,280, Li Chuanhai will invest CNY 21,995,280, Chen Yong will invest CNY 8,798,120 and Feng Ju will invest CNY 19,795,760. The transaction has been approved at the 2nd meeting of the company's 5th directorate.

The company will raise at a post money valuation of CNY 1,036,500,000.