China Development Co., Ltd. announced that the company plans to issue A-shares to specific targets through a simple procedure. The total capital raised will not exceed 120 million yuan, and the issuance target will not exceed 35 specific investors. The capital raised is intended to be used for the Chinese and Western medicine eye drop workshop upgrade and expansion project of 58 million yuan, 41.6 million yuan for the AI laboratory construction project for biosynthesis of active raw materials, and 20.4 million yuan in supplementary working capital. The issuance plan has been reviewed and approved by the board of directors. It still needs to be reviewed and approved by the Shanghai Stock Exchange and registered with the China Securities Regulatory Commission.

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