On November 15, 2021, Nantong Haixing Electronics Co., Ltd. closed the transaction. The company issued 31,200,000 A shares at a price of CNY 22 per share for gross proceeds of CNY 686,400,000 in the transaction. The transaction included participation from 16 specific investors including UBS Group AG for CNY 22,000,000, Nuode Asset Management Co., Ltd. for CNY 22,916,652 and individual investors including Guo Weisong for CNY 63,800,000.

The company received net proceeds of CNY 678,171,928.72 in the transaction. Post the transaction, CNY 31,200,000 is added to the registered capital and CNY 646,971,928.72 is added to the capital reserve of the company.