On August 18, 2023, Nanjing Yunhai Special Metals Co., Ltd closed the transaction. The company issued 62,000,000 A shares at an issue price of CNY 17.81 per share for the gross proceeds of CNY 1,104,220,000. The company has disclosed the issue expenses of CNY 5,133,962.27 and the net proceeds was 1,099,086,037.73.

Among them, increased share capital by CNY 62,000,000.00 and increased capital reserve by CNY 1,037,086,037.73. Before this issuance, Baosteel Metal held 90,499,155 shares of the company, accounting for 14.00% of the company's total share capital before this issuance; Mei Xiaoming, the company's current controlling shareholder and actual controller, held 116,559,895 shares of the company, accounting for 18.03% of the share capital. After this issuance is completed, based on the number of 62,000,000 shares issued, the investor holds 152,499,155 shares of the company, with a shareholding ratio of 21.53%; Mei Xiaoming, the company?s current controlling shareholder and actual controller, will hold 116,559,895 shares of the company, holding 16.45% stake.