HK$930 Million Proceeds from New Shares Placing

On 4 December 2020, LifeTech Scientific Corporation (the “Company”) entered into a placement agreement with the Citigroup Global Markets Limited. The Company will place 287,320,000 new shares at the price of HK$3.2368 per placing share. The placing shares represent approximately 6.62% of the total existing issued shares before the date of new share placing completion and approximately 6.21% of the total issued shares as enlarged by the allotment and issue of the placing shares. Assuming that all placing shares are fully placed, the aggregate gross proceeds from the placing are expected to be approximately HK$930 million.

On 7 December 2020, the HKEX Interest Disclosure System disclosed that, the Hillhouse Capital, as one of the important strategic investors of the Company, has increased its shareholdings in the Company by 166,260,000 shares through the placing. Hillhouse Capital will hold aggregately 428,738,000 shares of the Company after the completion of the placing, and the percentage of the shares holding by the Hillhouse Capital will increase from 6.05% to 9.88% accordingly.

The Company will use the proceeds efficiently that aiming to accelerate its new products R&D, clinical trials and to facilitate the market approval process for its pipeline products in the global markets, while further expanding its internationalization layout. Moreover, the proceeds will also lay a financial foundation for the development of new opportunities and the business scope expansion of the Company.