Liyang City Tianmu Hunan Shanzhuhai Tourism Co., Ltd. announced that it has entered into a capital increase agreement and it will receive CNY 392,246,200 in an equity round of funding on March 23, 2024. The transaction will include participation from returning investors, Jiangsu Tianmu Lake Tourism Co.,Ltd for CNY 254,960,000 and retain its 65% stake in the company and Liyang Nanshan Bamboo Sea Tourism Development Co., Ltd for CNY 137,286,200 and retain its 35% stake in the company. The funds raised through capital increase agreement of which CNY 10,000,000 will be included in the paid-in capital and the remaining part will be included in the capital reserve.

Both shareholders agreed to increase capital simultaneously and complete all capital contributions before December 31, 2025. The capital increase price of both parties is CNY 39.22462 /CNY 1 of registered capital. After the capital increase is completed, the registered capital of company will be adjusted to CNY 20,000,000.

The transaction has been reviewed and approved on third meeting of its investor's sixth board of directors and the third meeting of the sixth board of supervisors.