Summary by Moomoo AI
Wing Cheong Biopharmaceuticals (Yantai) Co., Ltd. (“Wing Cheong Biologics”) announced on March 29, 2024 that it plans to issue A shares to certain audiences with a total of no more than 255,000.00 million yuan for new drug R&D projects. The number of shares issued in this time does not exceed 70,763,170 shares. After the issuance is completed, the total share capital and net assets of the company will increase accordingly, but the use and implementation of the raising funds will take some time. The company expects continued large-scale R&D investments in the coming years and risks continuing losses. To protect the interests of investors, the company will take a series of measures to improve the company's competitiveness in order to replenish shareholder returns. All of the Company's controlling shareholders, effective controllers and all directors and senior management have undertaken to take remedial measures for the Company's issuance of shares to specific entities this time.