Punaigroup: Wholly-owned subsidiary Shanghai Baoming increased its capital by 211 million yuan.

Punaigufeng announced that the company held a board meeting on November 26, 2025 and agreed to increase the capital of its wholly-owned subsidiary Shanghai Baoming by 211 million yuan. After the capital increase, the registered capital of Shanghai Baoming will increase from 64 million yuan to 275 million yuan, and the company's shareholding in Shanghai Baoming will remain unchanged at 100%. Shanghai Baoming has recently completed the industrial and commercial changes related to the capital increase and obtained a business license.