On June 23, 2022, Fujian Haixia Environmental Protection Group Co.,Ltd. closed the transaction. The company has issued 84,158,415 A shares at a price of CNY 6.06 per share for gross proceeds of CNY 509,999,994.9. The transaction included participation from Fuzhou Water Group Co.,Ltd. for 16,831,683 shares, Anyuan Ruixuan Fortune No. 5 Private Securities Investment Fund, a fund managed by Henan Anyuan Asset Management Co., Ltd. for 1,980,198 shares, UBS AG for 3,300,330 shares, Nuode Fund Management Co., Ltd. for 9,339,933 shares, Gongqingcheng Fangxin Equity Investment Partnership (Limited Partnership) for 3,300,330 shares, Caitong Fund Management Co., Ltd. for 14,191,419 shares, Shengang Securities Investment (Beijing) Co., Ltd. for 4,950,495 shares, China Asset Management Co., Ltd. for 19,141,914 shares, Qingdao Huixin Investment Partnership Enterprise (Limited Partnership) for 4,191,420 shares, also included individual investors Ye Yuying for 4,950,495 shares and Dai Mingyin for 1,980,198 shares.

The company has received CNY 502,703,619.02 net raised funds after deducting issuance expenses of which the newly added registered capital and paid-in share capital are CNY 84,158,415.00, and the capital reserve is CNY 418,545,204.02. All the shares issued in the transaction is subject to a hold period of maximum eighteen months.