Jiangshan Oupai Engineering Materials Co., Ltd. announced that it expects to receive CNY 126,585,163 in equity funding from Jiangshan Oupai Door Industry Co., Ltd on August 9, 2022. Through the transaction Jiangshan Oupai Door Industry Co., Ltd will retain its 100% stake in the company.
On the same date, the company held the 22nd meeting of the fourth board of directors and approved the transaction. The transaction is within the scope of the approval authority of the company's board of directors and does not need to be submitted to the general meeting of shareholders for deliberation.