Tianjin Jintou State-owned Urban Development Co., Ltd. announced it has entered into Share Subscription Agreement with Tianjin State-Owned Capital Investment Operation Co., Ltd to issue 331,710,000 shares at a issue price of CNY 1.50 per share for gross proceeds of CNY 497,565,000 on April 11, 2024. The transaction has been approved in the 13th Extraordinary Meeting of the Company?s 11th Directorate and the 5th Extraordinary Meeting of the 11th Supervisory Board and is subject to the approvals of the Company?s Shareholders, the relevant state-owned assets supervision and management entity, the Shanghai Stock Exchange, and the China Securities Regulatory Commission.