The founding of YRD Investment (Shanghai) Co., Ltd. (the Company) was a major decision made by CPC Shanghai Municipal Committee and the municipal government in May 2020 in response to the national strategy of YRD integrated development initiated, deployed and promoted by President Xi. Funded and supervised by the municipal SASAC, the Company was incorporated on July 1, 2020 with a registered capital of RMB 5 billion by integrating the former Yangtze River Union Group and other enterprises. As a municipal SOE for functional assurance, it is an important carrier for the city’s state-owned assets and SOEs to play a key role in implementing national strategies, and a major platform to explore a new model of extensive consultation, joint investment and shared benefits in the region.

Focusing on the main responsibilities and core business of YRD integrated development and starting with the Demonstration Zone, the Company aims to create a platform for investment and investment services to fuel the high-quality YRD integrated development, and become a platform to support SOEs under the municipal SASAC to cooperate with the provinces of Jiangsu, Zhejiang and Anhui, to join hands in go ing global, and to participate in the development of the Demonstration Zone. In doing so, the Company will make itself an investor/builder of major cross-regional projects, a value creator of industrial and financial cooperation and investment, and a hi-tech park developer and operator.