According to the Tianbao Infrastructure announcement, the board of directors of the company reviewed and passed the capital increase bill. In order to meet the subsidiary's need to apply for real estate project development loans, it was agreed that the company's wholly-owned subsidiary, Tianjin Tianbao Real Estate Development Co., Ltd. would increase investment of 1,186 billion yuan to its wholly-owned subsidiary Tianjin Tianbao Fuyuan Real Estate Development Co., Ltd. with its own capital, all included in the capital reserve without increasing its registered capital, and authorized the company's general manager's office to organize and handle the work related to the above capital increase matters.

According to the Tianbao Infrastructure announcement, the board of directors of the company reviewed and passed the capital increase bill. In order to meet the subsidiary's need to apply for real estate project development loans, it was agreed that the company's wholly-owned subsidiary, Tianjin Tianbao Real Estate Development Co., Ltd. would increase investment of 1,186 billion yuan to its wholly-owned subsidiary Tianjin Tianbao Fuyuan Real Estate Development Co., Ltd. with its own capital, all included in the capital reserve without increasing its registered capital, and authorized the company's general manager's office to organize and handle the work related to the above capital increase matters.