Hunan Fangsheng Pharmaceutical Co.Ltd(603998) plans to raise no more than 270 million yuan from the actual controller

Hunan Fangsheng Pharmaceutical Co.Ltd(603998) announced that the company plans to issue shares in a non-public manner at a price of 4.74 yuan / share. The issuing object is Xinyuan property investment controlled by Zhang Qinghua, the actual controller of the company. The total amount of funds raised does not exceed 270 million yuan. After deducting the issuance expenses, it will be used to supplement working capital and repay bank loans.