Shanghai Chatian Catering Management Co., Ltd. announced that it has entered into an Investment Agreement with for private placement of common shares for proceeds of CNY 200,000,000 on December 5, 2022. The transaction is subject to obtaining the internal approval of all parties; (ii) obtaining the approval of the regulatory authorities, including but not limited to the unconditional or conditional approval for business operator concentration declaration. the funding will be raised in tranches.