On November 22, 2022, Crown Advanced Material Co.,Ltd. closed the transaction. The company amended the terms of the transaction. The company has issued 37,214,182 shares at an issue price of CNY 45.02 per share for gross proceeds of CNY 1,675,382,473.64 in the transaction. The transaction included participations from Caitong Fund Management Co., Ltd. for 6,010,661 shares, for proceeds of CNY 270,599,958.22, Wei Wei for 5,553,087 shares, for proceeds of CNY 249,999,976.74, Nuode Asset Management Co., Ltd. for 4,837,849 shares, for proceeds of CNY 217,799,961.98, and other investors.
On December 15, 2022, the company announced that After deducting the issuance expenses of CNY 19,501,016.02 (excluding value-added tax), the net raised funds are CNY 1,655,881,457.62.