On December 24, 2020, Guangzhou Jointas Chemical Co., Ltd. (SZSE:002909) closed the transaction. The company issued 32,715,375 shares at a price of CNY 9.17 per share for gross proceeds of CNY 299,999,988.75. The transaction included participation from Gongqingcheng Shengbang Kemi Investment Partnership (Limited Partnership), a fund managed by Gongqingcheng Shengbang Investment Management Co., Ltd. for CNY 204,999,999.19, Valin Jinshan (Tianjin) Industry Investment Fund Partnership Ent. (L.P.), a fund managed by Valin Jinshan Industrial Investment Management Co., Ltd. for CNY 19,999,999.25, Yuntai Minghui Private Equity Securities Investment Fund for CNY 29,999,994.29, and individual investor Zhu Zhengfu for CNY 44,999,996.02. Out of the total gross proceeds, CNY 32,715,375 is added to the registered capital of the company, and CNY 244,659,410.57 is added to the capital reserve. The company incurred issuance expenses of CNY 22,625,203.18, and raised net proceeds of CNY 277,374,785.57 in the transaction.