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What are the operation modes of the New Third Board Equity Investment Fund?
The New Third Board Equity Investment Fund has two modes of operation: pre-listing investment and fixed participation. The national share transfer system for small and medium-sized enterprises, commonly known as the "New Third Board". When issuing additional shares, the principle of fairness and justice shall be implemented, and each share in the same category shall enjoy the same rights.

legal ground

Article 178 of the Company Law of People's Republic of China (PRC)

When a limited liability company increases its registered capital, the contribution of the newly-increased capital subscribed by shareholders shall be implemented in accordance with the relevant provisions of this Law on the contribution of limited liability companies.

When a joint stock limited company issues new shares to increase its registered capital, shareholders shall subscribe for new shares in accordance with the relevant provisions of this Law on the establishment of a joint stock limited company and the payment of shares.