On January 25, 2022, China Greatwall Technology Group Co., Ltd. closed the transaction. The transaction involved participation from returning investors, China Electronics Corporation for CNY 749,999,994.88, CEC Financial Investment Holdings Co., Ltd. for CNY 349,999,996.68, Industrial Investment Fund Co., Ltd. for CNY 799,999,996.40, Guohua Fund for CNY 418,220,101.60 and 12 other investors. The registration procedures for the newly issued shares were completed at China Securities Depository and Clearing Co., Ltd. Shenzhen Branch.

Prior to issuance, China Electronics Corporation owned 1,215,478,547 shares, accounting for 41.34% stake; CEC Financial Investment Holdings Co., Ltd. owned 19,538,615 shares, accounting for 0.66% stake. Post the closing, China Electronics Corporation owns 1,269,203,475 shares, accounting for 39.35% stake, Industrial Investment Fund Co., Ltd. owns 57,306,590 shares, accounting for 1.78% stake, CEC Financial Investment Holdings Co., Ltd. owns 44,610,248 shares, accounting for 1.38% stake; Guohua Fund owns 29,958,460 shares, accounting for 0.93% stake; China Reform Shuangbai No.1 (Hangzhou) Equity Investment Partnership (Limited Partnership), a fund managed by State Reform Shuangbai Development Fund Management Co., Ltd. owns 28,653,295 shares, accounting for 0.89% stake. The company issued 285,603,151 shares at an issue price of CNY 13.96 per share for gross proceeds of CNY 3,987,019,987.96.

The company incurred CNY 11,529,082.67 as expenses in the transaction.