Business City (600306.CH/RMB 12.40, purchase) Announcement: 1) The company intends to issue 112,951,807 shares and purchase 100% of the shares of Yicheng Investment with an estimated asset value of 1.5 billion yuan (price per share is 13.28 yuan); 2) The company plans to invest in Zhang Zhenxin, Cai Fang, Liu Zhang, Li Jianqun, and 6 specific investors in a non-public offering of shares of 105,421,683 shares, with an issue price of 13.28 yuan per share, raised capital of 1.4 billion yuan, deductions After the issuance fee, it is intended to expand the Internet car platform business with new purchases, information system construction, and supplement the working capital of listed companies and supplement the working capital of listed companies. After the transaction is completed, the company's share capital will increase by 218,373,490 shares, accounting for 55.07% of the company's total share capital after issuance. After the transaction is completed, the actual controller of the company will be changed from Huang Maoru to Zhang Zhenxin. Zhang Zhenxin and his co-actors, Yi Sheng Investment and Liqun, together held 42.74% of the company's total share capital after the issuance was completed. The lockdown period for this issue of shares is 36 months. Comment: The business model has changed from traditional commercial services to a new business service model: Since the company has been affected by the macroeconomic downturn and e-commerce shocks in recent years, revenue growth is weak, and there is a lack of sustainable profitability, the company's main business will change to a highly profitable car rental business based on car rental, covering everything from vehicle procurement to disposal of closed-loop services throughout the life cycle. Car Rental's leasing business has covered 27 key cities across the country. It has professional driver behavior analysis and advanced real-time fleet positioning, monitoring and dispatch management technology systems, and relies on the Internet of Vehicles to provide customers with comprehensive travel solutions. The injection of new business will effectively help the company complete the transformation from traditional retail business.