On December 24, 2021, Baoxiniao Holding Co., Ltd. closed the tranasction. The company has issued 241,721,855 common shares at an issue price of CNY 3.02 per share for gross proceeds of CNY 730,000,002.10. The transaction had issue expenses of CNY 6,221,860.27 and had a net proceeds of CNY 723,778,141.83 out of which CNY 241,721,855.00 will go to registered capital, and the capital premium is CNY 482,056,286.83.

BDO China SHU LUN PAN Certified Public Accountants LLP has issued the Xin Huishi Bao Zi [2021] No. ZF11111 Capital Verification Report.