Tianjin Huaxin Urban Development Co., Ltd. announced that it will issues common shares of CNY 480 million on February 23, 2024. The transaction includes participation from returning investor Tianjin Jintou State-owned Urban Development Co., Ltd. The company held the 11th extraordinary meeting of the 11th session of the Board of Directors and passed the Proposal on Increasing Capital to wholly-owned subsidiary and it still needs to be submitted to the company's shareholders' meeting for review.