Has Pudong Architectural Design and Research Institute merged with Pudong Development?

Pudong Architectural Design and Research Institute merged with Pudong Development. Displays information about the query. Shanghai Pudong Construction Co., Ltd. (hereinafter referred to as "the Company" or "the Company") plans to acquire 37.5% equity of Pudong Design Institute held by Shanghai Pudong Design Institute Co., Ltd. (hereinafter referred to as "Pudong Design Institute" or "the target company") and invest RMB 6,543.8+0,000 yuan to set up a wholly-owned subsidiary. As a general partner, the newly established wholly-owned subsidiary, together with the management and key personnel of Pudong Design Institute, invested to set up an employee shareholding platform in the form of limited partnership to undertake the 25% equity of Pudong Design Institute currently held by natural person shareholders. On March 1 2022, the company held the second meeting of the eighth board of directors, and deliberated and passed the Proposal on Acquisition of the Equity of Shanghai Pudong Architectural Design and Research Institute Co., Ltd. For details, please refer to the Announcement on Resolution of the Second Meeting of the Eighth Board of Directors of Pudong Construction, which was disclosed by the company on March 2, 2022.