Hubei Lianxin Industrial City Construction and Development Co., Ltd. announced that it has entered into capital increase agreement to issue common shares for gross proceeds of CNY 390,000,000 on April 30, 2022. The transaction included participation from returning investors Wuhan East Lake High Technology Group Co., Ltd. for CNY 198,900,000 to maintain 49% stake, and Wuhan United Investments and Properties Co.,LTD for CNY 191,100,000 to maintain 51% stake in the company. Post the transaction, the registered capital of the company increase from CNY 400,000,000 to CNY 810,000,000.