On July 19, 2023, Kunming Chuan Jin Nuo Chemical Co., Ltd. closed the transaction. The company issued 50,176,424 shares at a price of CNY 14.17 per share for gross proceeds of CNY 710,999,928.08 and net proceeds of CNY 695,059,960.26. The transaction included participation from new investors,UBS Group AG for 3,528,581 shares for CNY 49,999,992.77 China Asset Management Co.

Ltd. for 4,163,726 shares for CNY 58,999,997.42, Caitong Fund Management Co.,Ltd. for 9,880,028 shares for CNY 139,999,996.76, Nuode Asset Management Co.,Ltd. for 12,632,321 shares for CNY 178,999,988.57,Kunming Shunlong Energy Co.Ltd. for 3,528,581 shares for CNY 49,999,992.77, Guotai Junan Asset Management (Asia) Co.,Ltd. for 5,857,445 shares for CNY 82,999,995.65, AEGON-Industrial Fund Management Co. Ltd. for 1,199,717 shares for CNY 16,999,989.89 ,Xiamen Borui Oriental Investment Management Co.,Ltd. for 1,058,574 shares for CNY 14,999,993.58, Taikang Asset Management Co. ,Ltd for 705,716 shares for CNY 9,999,995.72, Lv Liangfeng for 2,822,865 shares for CNY 39,999,997.05, Hainan SGD Private Fund Management Co.

for 3,528,581 shares for CNY 49,999,992.77,Ltd.-SGD Hongsheng No. 10 Private Securities Investment Fund for 1,058,574 common shares for CNY 14,999,993.58, Taikang Asset Management Co., Ltd.-Taikang Asset Yuetai Zengxiang Asset Management Product for 705,716 for CNY 9,999,995.72, Taikang Asset Management Co., Ltd.-Taikang Pension-Participating Insurance Special Investment Portfolio B for 705,716 for CNY 9,999,995.72, Xue Xiaohua for 705,716 for 9,999,995.72. The pre-registration procedures for the newly issued shares have been completed at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited.

The transfer of shares are restricted for 6 month holding period.