On July 19, 2022, Hengtong Logistics Co., Ltd. closed the transaction. The company has issued 114,997,604 shares at issue price of CNY 20.87 per share for an aggregate gross proceeds of CNY 2,399,999,995.48 in the transaction. The company has paid CNY12,333,616.38 as the issuance fee which includes CNY 12,000,000 as the underwriting fee and sponsor fee, and received net proceeds of CNY 2,387,666,379.1 in the transaction.

Out of total net proceeds CNY 114,997,604 was included in the paid-in share capital, and CNY 2,272,668,775.10 was included in the capital reserve. The only investor Nanshan Group Co., Ltd.Æs holding in the company has changed from 20.30% to 38.27%.