On January 26, 2026, Gushengtang Holdings Limited (Gushengtang) announced that it had entered into a subscription agreement with an investment vehicle of Boyu Capital for the issuance and subscription of convertible bonds of Gushengtang in the aggregate principal amount of $110 million.

Gushengtang is an investment holding company primarily engaged in the provision of traditional Chinese medicine medical and health services. The board of Gushengtang believes that the transaction will assist the group to strengthen its leading position in the Greater China region and Singapore and bring unparalleled experiences and expertise in expanding the group’s presence in Mainland China, Singapore, and other overseas markets in order to achieve profitable long-term growth.

Wilson Sonsini Goodrich & Rosati advised Boyu Capital on the transaction. The team includes Weiheng Chen, Yang Chu, Xuchao Klaus Dong, Billy Yiu, Chun Teng, Athena Yu, and Yang Liao.

For more information, please see Gushengtang’s pricing announcement.