Ucommune International Ltd. announced that it has leveraged its asset-light model to increase the occupancy rate of its Wuhan Lingjiaohu Yihao project (the "Project") to 86.59% in just 5 months, with more than 40 companies moving into the Project's office spaces since its initial opening. Jointly operated by Ucommune and Yuzhou Group the Project is located in Yuyueli, which is at the core of Hanjiang area in Wuhan, the city in Hubei Province and the most populous city in Central China. With 4,860m² of office space and capacity for nearly 800 professionals, the Project's premium working spaces and services have been highly attractive to those companies affected by the pandemic. Project tenants currently comprise more than 20 companies in the technology and Internet industries, including Julive, Guazi, Liutiaoyu, and Zancheng, while the remaining companies are start-ups in industries such as media, tourism, and education. Ucommune has partnered with Yuzhou Group under its U Partner asset-light model. As part of this model, Yuzhou Group, the property owner, offers Ucommune the right to use its office spaces, while Ucommune operates and manages the office spaces under its brand. Benefitting from the Company's robust promotional capabilities and agile office space management, Yuzhou Group has enjoyed more business activity through this cooperation while its property's asset utilization rates and asset value have also increased.