On June 16, 2023, Beijing SOJO Electric Co., Ltd. closed the transaction. The company has received gross proceeds of CNY 269,999,999.20 in the transaction. The company has charged a issue fees of CNY 3,974,876.91.

The net proceeds is CNY 266,025,122.29. Prior to issuance, as of June 9, 2023, Zhao Zhihong owns 84,908,324 shares in the company, accounting for 11.71% stake. After the issuance, Zhao Zhihong owns 158,277,889 shares in the company, accounting for 19.82% stake.