Announcement of the resolution by the Board of Directors for capital reduction in cash on behalf of subsidiary Excelsior Medical (HK) Co.,Ltd.

Announcement of the resolution by the Board of Directors
for capital reduction in cash on behalf of subsidiary
Excelsior Medical (HK) Co.,Ltd.

1.Date of the board of directors resolution:
  2023/08/08
2.Reason for capital reduction:
  Capital reduction for restructuring of the group's 
  investment structure.
3.Amount of capital reduction:USD30,063,495
4.Cancelled shares:30,063,495 shares.
5.Capital reduction percentage:36.40%
6.Share capital after capital reduction:52,531,075 
  shares.
7.Scheduled date of the shareholders meeting:
  2023/08/08
8.Estimated no.of listed common shares after issuance
  of new shares upon capital reduction:Not Applicable.
9.Estimated ratio of listed common shares after issuance
  of new shares upon capital reduction to outstanding 
  common shares:Not Applicable.
10.Please explain any countermeasures for lower 
   circulation in shareholding if the aforesaid
   estimated no.of listed common shares upon capital
   reduction does not reach 60 million and the percentage
   does not reach 25%:Not Applicable.
11.The record date for capital reduction:Not Applicable.
12.Any other matters that need to be specified:
   Excelsior Medical (HK) Co.,Ltd. will carry out a cash 
   reduction, and base on its shareholding proportion,
   returning USD 19,347,728 to Excelsior Medical Co.,Ltd.
   and returning USD 10,715,767 to Excelsior Healthcare 
   Co., Limited.”