Zhongyuan Media: Increase capital of 50 million yuan to wholly-owned subsidiary and introduce investment from related parties.

Zhongyuan Media announced that the 17th meeting of the 9th Board of Directors of the company agreed to allow its wholly-owned subsidiary to increase its capital to its wholly-owned subsidiary Innovative Practice Company by issuing shares to the group, Big Elephant Society, and Sea Swallow Society, as well as introducing the related party Digital Science and Education Equity Fund to increase capital. The registered capital of the Innovative Practice Company will be increased from 30 million yuan to 80 million yuan. Among them, the group will increase its capital by 17.5 million yuan, holding 41% of the shares after the capital increase; Big Elephant Society will increase its capital by 8.5 million yuan, holding 20% of the shares after the capital increase; Sea Swallow Society will increase its capital by 8.8 million yuan, holding 20% of the shares after the capital increase; and the Digital Science and Education Equity Fund will increase its capital by 15.2 million yuan, holding 19% of the shares after the capital increase. The purpose of this capital increase is to accelerate the development of the Innovative Practice Company and cultivate new sources of profit growth.