Shanghai Tipu Space Design Co., Ltd. announced a capital increase through placement of common shares for gross proceeds of CNY 7,128,549 on December 9, 2022. The transaction will include participation from Shanghai Urban Architecture Design Co., Ltd. for 30% stake. In the transaction, CNY 6,771,428 will go towards registered capital and CNY 357,121 towards capital reserve of the company, increasing it from CNY 15,800,000 to CNY 22,571,428.

The transaction has been approved at the 6th meeting of the 3rd board of directors of Shanghai Urban Architecture Design Co., Ltd. The transaction does not need approval from the shareholders.