Aulong Shipbuilding Co., Ltd. entered into a capital increase agreement for the placement of common shares for gross proceeds of CNY 100 million on October 9, 2023. The transaction will include participation from returning investor, Jianglong Shipbuilding Co., Ltd. for CNY 43,018,900 out of which CNY 39,558,500 will be added as registered capital and new investor, Zhuhai Jiukong Investment Co., Ltd. for CNY 56,981,100 for 36.910% stake out which CNY 52,397,700 will be added as registered capital. After the transaction, Jianglong Shipbuilding Co., Ltd.'s stake will change from 60% to 49%.

The transaction has been approved at the 3rd session of Jianglong Shipbuilding Co., Ltd.'s 4th directorate. The expected date of payment deadline is December 31. 2023.

The pre-money valuation of the company is CNY 54,373,700. The round is being raised at a post-money valuation of CNY 154,373,700.