Nanjing Wells Medical Technology Co., Ltd. Announces Notification of Shareholding Reduction Exceeding 1% by Shareholder and Its Concert Parties

Stock Code: 688580 Stock Abbreviation:VISHEEAnnouncement No.: 2022-007

The board of directors and all directors of our company guarantee that there are no false records, misleading statements, or significant omissions in the content of this announcement, and they assume legal responsibility for the authenticity, accuracy, and completeness of its content.

Important Content Tips:

● This change in equity involves the implementation of a previously disclosed reduction plan, does not involve a tender offer, and will not lead to a change in the company's controlling shareholder or actual controller.

● After this change in equity, the combined shareholding percentage of the company's shareholder, Shenzhen Yanghe Bio-Medical Industry Investment Co., Ltd. (hereinafter referred to as "Yanghe Investment") and its concert parties Lian Qingming, Su Cailong, Li Xiaoming, Shi Zhuangping, Tan Fei, Yang Chongxiang, Zhou Dongyao, and Zheng Guihua, decreased from 7.42% to 6.37%.

Nanjing Vishee Medical Technology Co., Ltd. (hereinafter referred to as "the Company") received a letter titled "Notice on the Progress of the Reduction of VISHEE Shares" from shareholder Yanghe Investment and its acting-in-concert parties on March 28, 2022. The relevant information on equity changes is hereby announced as follows:

I. Situation of the Equity Change this Time

(1) Information Disclosure Obligor

Note:

1. During the period of this equity change, except for the concert parties listed in the table above, the shareholding quantities of the remaining concert parties remained unchanged.

2. The shares involved in this equity change all have voting rights, with no proxy or restriction on voting rights, and there is no restriction on transfer.

3. This change does not violate the scenarios stipulated in the Securities Law, the Measures for the Administration of the Acquisition of Listed Companies, and other relevant laws, regulations, and business rules of the Shanghai Stock Exchange, nor does it breach relevant commitments.

II. Shareholding Status Before and After This Equity Change

Note:

1. The tail difference in the table is due to rounding and summing of the data.

II. Other Information

1. This equity change is a reduction, does not involve the source of funds, and does not trigger a tender offer.

2. The share reduction this time is consistent with the previously disclosed reduction plan and related commitments, and there is no violation.

3. According to the "Securities Law of the People's Republic of China," "Measures for the Administration of the Acquisition of Listed Companies," and "Content and Format Standards for Information Disclosure of Companies Issuing Securities No. 15 - Equity Change Report," and other laws, regulations, and normative documents, this equity change does not involve the disclosure of a simplified equity change report by the information disclosure obligor.

4. This change in equity interests is a normal reduction behavior by the shareholders, which will not have a significant impact on the corporate governance structure or ongoing operations. This equity interest change will not lead to a change in the actual controller.

5. After this change in equity interest, the information disclosure obligor is still in the reduction period. The company will urge them to strictly enforce the relevant regulations on reductions and promptly disclose relevant information. Investors are advised to be mindful of investment risks.

Hereby announced.

Board of Directors of Nanjing Vishee Medical Technology Co., Ltd.

March 29, 2022