Dehua Tubaobao Investment Management Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 500,000,000 on February 27, 2022. The transaction will include participation from returning investor DeHua TB New Decoration Material Co.,Ltd to retain 100% stake in the company. The transaction has been approved in the 14th meeting of the investor's 7th directorate, and does not require shareholders approval.

Post the transaction, its registered capital will increase from CNY 500,000,000 to CNY 1,000,000,000.