Nanjing Jiatai announced a private placement of signed an equity increase agreement to provide CNY 302,884,461 by new investor, Hefei Fengmao Real Estate Development Co., Ltd. for 51% of the equity and from returning investor, Beijing Capital Development Co., Ltd. for CNY 269,410,599 in funding and hold 49% of the equity for aggregate gross proceeds of CNY 572,295,060 on June 24, 2024. Upon completion of the capital Increase, the registered capital of the company will be increased to CNY 550,000,000 and the company will become an indirect non-wholly-owned subsidiary of the Beijing Capital Development Co., Ltd. The company has issued equity in the transaction.