Hangzhou Yuean Commercial Operation Management announced a private placement of common shares for the gross proceeds of CNY 90 million on November 11, 2022. The transaction will include participation from new investors, Guangdong Tom Cat Industry Development Co., Ltd., Hanshang Youpin Network Technology Co., Ltd., Guangzhou Yuean Industry Investment Co., Ltd. and Zhejiang Jinke Tom Culture Industry Co., LTD. The transaction has been approved in the 22nd meeting of the 4th board of directors of the company. Post completion of the transaction, Guangzhou Yuean Industry Investment Co., Ltd. will hold 73.96% stake, Guangdong Tom Cat Industry Development Co., Ltd. will hold 1.63% stake and Zhejiang Jinke Tom Culture Industry Co., LTD. will hold 14.06% stake in the company.

The company's capital increase is CNY 90 million of which CNY 17,307,692 is included in the registered capital of Yuean Commercial Management, the remaining CNY 72,692,308 is included in the capital reserve of Yuean Commercial Management.