Qingdao China Construction United Group Co., Ltd announced a placement of common shares for gross proceeds of CNY 200 million on December 16, 2022. The transaction will include participation from returning investor, Decai Decoration CO.,LTD. The transaction has been approved at the 5th session of company?s 4th directorate. After the transaction, the company will still be a wholly-owned subsidiary of Decai Decoration CO.,LTD. Through this transaction, the registered capital of the company will increase from CNY 320 million to CNY 520 million.