Zhejiang Reclaim Construction Group Ningbo Hangzhou Bay New Area Jiantang Investment Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 496,000,000 on January 16, 2023. The transaction will include participation from returning investor Zhejiang Reclaim Construction Group Co., Ltd. to maintain its 100% stake in the company after the transaction. The registered capital of the company will increase from CNY 1,404,000,000 to CNY 1,900,000,000.

The transaction has been approved at the 56th meeting of the 6th board of directors of Zhejiang Reclaim Construction Group Co., Ltd.