On December 24, 2021, Jiangsu Lettall Electronic Co.,Ltd closed the transaction. The company issued 30,000,000 A shares at a price of CNY17.31 per share for gross proceeds of CNY 519,300,000. The transaction included participation from 11 institutional investors which includes Tidesheng Investment Tailai No.

1 Private Securities Investment Fund, a fund managed by Beijing Taidesheng Investment Co., Ltd. for 8,087,810 shares, Caitong Fund Management Co., Ltd. for 3,038,705 shares, and Wuxi Guofa Capital Operation Co., Ltd. for 2,888,503 shares, and 3 individual investors which includes Wu Qinbo for 3,466,204 shares. The company incurred issuance expenses of CNY 7,995,750.58 and raised net proceeds of CNY 511,304,249.42 in the transaction. Out of the total gross proceeds, CNY 30,000,000 was added to the registered capital of the company, and share premium of CNY 481,304,249.42 was added to the capital reserve.