On March 25, 2022, Guangdong Wanlima Industry Co.,Ltd. closed the transaction. The company issued 75,949,367 shares at a price of CNY 5.53 per share for gross proceeds of CNY 419,999,999.51. The transaction included participation from Hainan Wenqin Private Fund Management Partnership Enterprise (Limited Partnership) for 12,839,059 shares and CNY 70,999,996.27, Shanghai Bansheng Private Fund Management Co., Ltd. for 6,329,113 and CNY 34,999,994.89, Shenzhen Zefeng Ruixi Private Securities Fund Management Co., Ltd. for 5,244,122 shares and CNY 28,999,994.66, Lihua Investment Co., Ltd. for 4,520,795 shares and CNY 24,999,996.35, Nanjing Frierson Investment Partnership (Limited Partnership) for 3,797,476 shares and CNY 21,000,042.28, JPMorgan Chase Bank, National Association for 3,616,636 shares and CNY 19,999,997.08, Shanghai Ruiyi Investment Development Center (Limited Partnership) for 3,616,636 shares and CNY 19,999,997.08, Huatai Asset Management Co., Ltd. for 3,616,636 shares and proceeds of CNY 19,999,997.08, Huang Ha and Shenzhen Dahua Xinan Asset Management Enterprise (Limited Partnership) for 3,616,636 shares and CNY 19,999,997.08 each, Nuode Asset Management Co., Ltd. for 17,902,350 shares and CNY 98,999,995.50 and individual investor Tang Zhichao for 3,616,636 shares and CNY 19,999,997.08.

On closing, the registered capital of the company increased from CNY 329,724,410 to CNY 405,673,777.