Shanghai Dongmao Real Estate Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 6,000,000,000 on December 4, 2021. The transaction will include participation from returning investors Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd. for CNY 1,800,000,000 to retain 30% stake and Shanghai Lujiazui Development(Group) Company Limited for CNY 4,200,000,000 to retain 70% stake in the company. Post the transaction, the registered capital of the company will increase from CNY 10,000,000,000 to CNY 16,000,000,000. The transaction has been approved at the second meeting of the audit committee of the ninth board of directors in 2021 and the third interim meeting of the ninth board of directors meeting in 2021 of Shanghai Lujiazui Finance & Trade Zone Development Co., Ltd.