On April 20, 2022, Shaoxing BSM Chemical Co., Ltd. closed the transaction. The company issued 22,160,664 common shares for gross proceeds of CNY 399,999,985.20. The transaction included participation from Zhang Jianfei for 3,490,304 shares for gross proceeds of CNY 62,999,987.20, Shao Changcheng for 3,878,116 shares for gross proceeds of CNY 69,999,993.80, Chen Jinbiao for 1,772,853 shares for gross proceeds of CNY 31,999,996.65, Yan Yong for 1,772,853 shares for gross proceeds of CNY 31,999,996.65, Zhang Zilin for 1,662,049 shares for gross proceeds of CNY 29,999,984.45, Tidesheng Investment Delai No.

2 Private Securities Investment Fund, a fund managed by Beijing Taidesheng Investment Co., Ltd. for 4,653,739 shares for gross proceeds of CNY 83,999,988.95, Nuode Fund Management Co., Ltd. for 4,930,750 shares for gross proceeds of CNY 89,000,037.50.