Guofa Co., Ltd. (600538.SH) plans to raise no more than RMB 120 million through a private placement.

Zhitong Finance APP News, Guofa Co., Ltd. (600538.SH) announced that the company plans to issue A-shares to specific targets through a simplified procedure, with total funds raised not exceeding RMB 120 million. After deducting relevant issuance expenses, the net proceeds will be fully used for: the upgrade and expansion project of the Chinese and Western medicine eye drop workshop, the construction project of the AI laboratory for biosynthesis of active pharmaceutical ingredients, and supplementing working capital.