ZLC announced that its wholly-owned subsidiary Shanghai Yongjiu Import and Export Co., Ltd. will increase its capital and introduce external investor Yancheng Dafeng District Fengtai Emerging Industry Investment Fund. The Fengtai Fund intends to subscribe for an additional registered capital of RMB 1.2725 million with cash of RMB 30 million, and the remaining capital increase will be included in the capital reserve. After the capital increase is completed, the registered capital of Yongjiu Import and Export will increase to RMB 6.3625 million, with ZLC's shareholding ratio adjusted to 80% and Fengtai Fund's shareholding ratio at 20%. This capital increase will not affect ZLC's control over Yongjiu Import and Export, which will still be its controlled subsidiary. This transaction has been approved by the company's board of directors and is subject to approval by the shareholders' meeting
