On July 19, 2021, Nanjing Quanxin Cable Technology Co., Ltd. closed the transaction. The company issued 21,319,120 shares at issue price of CNY 15.01 per share for gross proceeds of CNY 319,999,991.2 in the transaction. The transaction included participation from Wang Xiaohe for 1,332,445 shares for gross proceeds of CNY 19,999,999.45, Taikang Asset Management Co., Ltd. for 5,996,002 shares for CNY 89,999,990.02, Caitong Fund Management Co., Ltd. for 4,530,306 shares for gross proceeds of CNY 67,999,893.06, Southern Tianchen (Beijing) Investment Management Co., Ltd for 5,336,440 shares for gross proceeds of CNY 80,099,964.4, Nuode Asset Management Co., Ltd. for 866,087 shares for gross proceeds of CNY 12,999,965.87, Zhenjiang Galaxy Venture Capital Co., Ltd., a fund managed by Zhenjiang Hi-Tech Venture Capital Co., Ltd. for 999,333 shares for gross proceeds of CNY 14,999,988.33, and Guosen Securities Co., Ltd., Investment Arm for 2,258,507 shares for gross proceeds of CNY 33,900,190. The company will incur expenses of CNY 7,152,187.85 which includes CNY 20,112.38 securities registration fee. in relation to the transaction receiving net proceeds of CNY 312,847,803.35? in the transaction. Of the net amount raised, CNY 21,319,120 is included in the share capital and CNY 291,528,683.35 is included in the capital reserve of the company. The securities to be issued shall have a hold period of 6 months from the closing of the transaction.