on July 15, 2021, Jiangsu Sanfangxiang Industry Co., Ltd. closed the transaction. The company amended the terms of the transaction. The company will now receive 239,173,269 common shares at a price of CNY 2.43 per share for the gross proceeds of CNY 581,191,043.67. The transaction included participation from Li Jianfeng for 139,917,695 shares for CNY 339,999,998.85 stake in the company, Lu Zhouxin for 9,053,497 shares for CNY 21,999,997.71 acquiring 0.23% stake in the company, Ma Tiecheng for 8,641,975 shares for CNY 20,999,999.25, Guolian Securities Co., Ltd. for 8,230,452 shares for CNY 19,999,998.36, Lihua Chongyang Private Securities Investment Fund, a fund managed by Lihua Investment Co., Ltd. for 8,230,452 shares for CNY 19,999,998.36, Guotai Asset Management Co., Ltd. for 41,152,263 shares for CNY 99,999,999.09, Jiangyin Xinguolian Base Industrial Co., Ltd. for 20,576,131 shares for CNY 49,999,998.33, Jurun All Weather No. 6 Securities Private Investment Fund, a fund managed by Jurun (Beijing) Capital Management Co., Ltd. for 3,370,804 shares for CNY 8,191,053.72. The company paid CNY 2,040,000.00 as issue fees in the transaction.
On July 22, 2021, the registration procedures for the newly issued shares were completed at China Securities Depository and Clearing Co., Ltd.