GUSHENGTANG (02273) announced that on January 26, 2026 (after trading hours), the company entered into a subscription agreement with relevant investors to issue convertible bonds with a total principal amount of $110 million. The initial conversion price is set at HK$37.77 per share, representing a premium of approximately 22.23% over the closing price of HK$30.90 per share on the Hong Kong Stock Exchange on January 26, 2026. Upon completion of the issuance, the net proceeds from the convertible bonds are estimated to be approximately $108.7 million. These funds are intended to be used for share repurchases to optimize the capital structure and enhance shareholder value, for the development of artificial intelligence systems applied to TCM diagnosis and treatment, health management, and the inheritance of expert experience, as well as for general working capital purposes. The relevant investor is Ginkgo Health Investment Ltd. Ginkgo Health Investment Ltd. is an exempted company incorporated under the laws of the Cayman Islands and is wholly owned by Boyu Capital Growth Fund I, Pte. Ltd., which is a private equity fund advised by its investment advisor, Boyu Capital Group Management Ltd. Boyu Capital Group Management Ltd. provides catalytic capital and strategic support to leading enterprises globally in sectors such as technology, healthcare, consumer goods, and sustainable energy.