Nanjing Bainian Tongqing Catering Co., Ltd. announced a private placement of common shares for gross proceed of CNY CNY 83,225,100 on October 22, 2020. the transaction will include participation from returning investor Tongqinglou Catering Co., Ltd. (SHSE:605108) to retain 100% stake in the transaction. The transaction has been approved at the seventeenth meeting of the second directorate of the investor. Post the transaction, CNY 55,000,000 will be included registered capital and CNY 28,225,100 will be included in the capital reserve. After the capital increase, the registered capital will increase from CNY 5,000,000 to CNY 60,000,000.