On May 16, 2022, Houpu Clean Energy Co., Ltd. closed the transaction. The company has issued 21,279,052 shares at a price of CNY 7.29 per share for gross proceeds of CNY 155,124,289.08. As a part of the transaction Wang Jiwen now holds 14.96% stake in the company.

The company has received net proceeds of CNY 151,262,879 after deducting various issuance expenses excluding tax of CNY 3,861,410.08 (which included CNY 3,301,886.79 for Underwriting and sponsor fee, CNY 188,679.25 for Audit and capital verification, CNY 188,679.25 for Lawyer's fee and CNY 182,164.80 as other fees) in the transaction.