On January 31, 2024, Ningbo Changhong Polymer Scientific and Technical Inc. closed the transaction. The company issued 3,582,000 shares at an issue price of CNY 13.96 per share for the gross proceeds of CNY 50,004,720. The company has disclosed the issue expenses of CNY 8,259,983.02 and the net proceeds of CNY 41,744,736.98.

Prior to the issuance, as of January 31, 2024, investor owns 14 million shares in the company, accounting for 2.18% stake. After the issuance, investor owns 17,582,000 shares in the company, accounting for 2.72% stake. The shares subscribed by invetsor must not be transferred within 18 months after issuance.