On December 7, 2022, Sinochem International Corporation closed the transaction. The company issued 829,220,901 shares at an issue price of CNY 6 per share for gross proceeds of CNY 4,975,325,406. The transaction included participation from returning investor, Sinochem Corporation for 449,665,868 shares, Fanyi Multi-Stategy Yushi Xiexing No.

1 Private Securities Investment Fund a fund managed by, Qingdao Fanyi Asset Management Co., Ltd. for 50,000,000 shares, along with Lianyungang Carbon Three Investment Fund Partnership (Limited Partnership), a fund managed by, Jiangsu Shengshi Juxin Private Fund Management Co., Ltd. for 23,333,333 shares, Lianyungang Runyang Equity Investment Fund Partnership Enterprise (Limited Partnership), a fund managed by, Jiangsu Jinqiao Private Fund Management Co., Ltd. for 18,333,333 shares, Qingdao Huixin Investment Partnership Enterprise (Limited Partnership) for 11,666,666 shares, Jinan Hanxiang Investment Management Partnership Enterprise (Limited Partnership) for 11,666,666 shares, Jinan Hanhui Investment Partnership Enterprise (Limited Partnership) for 11,666,666 shares, JPMorgan Chase Bank, National Association for 14,200,000 shares, Caitong Fund Management Co., Ltd. for 41,550,000 shares, AEON Insurance Asset Management for 25,000,000 shares, Yangtze River Jinsewanqing (Collective) Enterprise Annuity Plan for 15,000,000 shares, Changjiang Pension Insurance Co., Ltd. (Changjiang Golden Symphony (Collective Type) Enterprise Annuity Plan-Bank of Communications Co., Ltd.) for 11,666,666 shares, Wuxi Jintou Holding Co., Ltd. for 11,666,666 shares, Anhui Wenergy Capital Investment Co., Ltd. for 11,666,666 shares, UBS Group AG for 23,333,333 shares, Shanghai Shangguo Investment Management Co.,Ltd. for 33,333,333 shares, China Structural Reform Fund II, a fund managed by, Chengtong Fund Management Co., Ltd. for 48,805,039 shares and Beijing Guoneng New Energy Industry Investment Fund (Limited Partnership) for 16,666,666 shares. The company incurred issuance fees of CNY 7,986,472.08 and received net proceeds of CNY 4,967,338,933.92.