On July 21, 2022, Cangzhou Mingzhu Plastic Co., Ltd. closed the transaction. The company issued 254,773,567 common shares for gross proceeds of CNY 1,238,199,535.62. The transaction included participation from 20 investors including collapse for 15,432,097 shares, Shenzhen Nengjing Investment Holdings Co., Ltd. for 14,197,530 shares, China Asset Management Co., Ltd. for 38,271,601 shares and others including individual investors.

The shares issued in the transaction are subject to 6 months lock up period. Out of total funds, CNY 254,773,567 will be added to registered capital and CNY 966,412,305.47 in capital reserve.