Shanghai Oriental Dragon New Media Co., Ltd. announced that it will raise CNY 1,250,000,000 in an equity round of funding on July 1, 2024. The transaction will include participation from new investor Shanghai Media Group for CNY 650,000,000 and returning investor Oriental Pearl Group Co.,Ltd. for CNY 600,000,000. The transaction has been approved by the 11th meeting of the Audit Committee of the Company's 10th Board of Directors,5th special meeting of the Independent Directors of the Company's 10th Board of Directors and 14th (extraordinary) meeting of the Company's 10th Board of Directors.