This announcement is made by Tianjin Tianbao Construction Co., Ltd. regarding the company's capital reduction and related transactions with its controlling shareholder.
I. Overview of Related Transactions
According to the company's operational needs and business development, Tianjin Tianbao Construction Co., Ltd. (hereinafter referred to as "the Company") and its controlling shareholder Tianjin Tianbao Holdings Co., Ltd. (hereinafter referred to as "Tianbao Holdings") will jointly reduce the capital of the subsidiary Tianjin Tianbao Real Estate Development Co., Ltd. (hereinafter referred to as "Tianbao Real Estate") by RMB 1 billion. Of this amount, the Company will hold RMB 557,325,000 shares, and Tianbao Holdings will hold RMB 442,675,000 shares. The total capital reduction amount is RMB 44,267,500. This capital reduction will not affect the normal operation of Tianbao Real Estate.