On March 1, 2021, the non-public issuance of Qingdao Blue Biological Co., Ltd. with Hai Run Law Firm as the special legal counsel was reviewed and approved by the Issuance Examination Committee of China Securities Regulatory Commission. On March 16, 2021, the company received the "Approval for the Non-public Issuance of Shares by Qingdao Blue Biological Co., Ltd." issued by China Securities Regulatory Commission(China Securities Regulatory Commission [2021] No. 787). This project was led by Yan Kebing, the senior partner of Hai Run Law Firm, and undertaken by business partner Mu Manyi and lawyer Li Wei.

The total amount of funds raised from the non-public issuance of shares by Blue Bio do not exceed RMB 500,000, and all funds will be used to supplement working capital after deducting the issuance costs. As the specialized legal counsel for this issuance, our lawyers provided full-process and comprehensive legal services including legal due diligence, transaction structure design, core document drafting, resolution of major difficult legal issues, and issuance of legal opinions at various stages, which provides a strong guarantee for the smooth and efficient completion of this issuance.