On June 16, 2021, Tianjin Quanyechang (Group) Co.,Ltd. closed the transaction. The company has issued 314,858,490 A shares at a price of CNY 4.24 per share for total gross proceeds of CNY 1,334,999,997.6. The transaction included participation from Shandong Huihan Industry Development Co., Ltd., subscribed 9433962 shares for CNY 39,999,998, Shanghai Fushan Investment Co., Ltd. subscribed 10377358 shares for CNY 43,999,997, Zhongqing Xinxin Zhisheng (Shanghai) Equity Investment Partnership (Limited Partnership) subscribed 62877358 shares for CNY 266,599,997, First Capital Securities Co., Ltd. subscribed 19599056 shares for CNY 83,099,997, Wu Jianxin subscribed 9433962 shares for CNY 39,999,998, Yang Qi subscribed 9433962 shares for CNY 39,999,998, Angang Group Capital Holdings Co., Ltd. subscribed 9669811 shares for CNY 40,999,998, JP Morgan ChaseBank, National Association subscribed 9433962 shares for CNY 39,999,998, GuosenSecuritiesCo.,Ltd. subscribed 11792452 shares for CNY 49,999,996, Jinan Wenjing Investment Partnership (Limited Partnership) subscribed 9433962 shares for CNY 39,999,998, Shanghai Boshen Investment Center (Limited Partnership) subscribed 11320754 shares for CNY 47,999,996, China Asset Management Co., Ltd. subscribed 17452830 shares for CNY 73,999,999, Caitong Fund Management Co., Ltd. subscribed 9433962 shares for CNY 39,999,998, Jiang Jian subscribed 9433962 shares for CNY 39,999,998, Shenzhen Financial Investment Property Management Co., Ltd. subscribe 17900943 shares for CNY 75,899,998, Nordisk Fund Management Co., Ltd. subscribe 23820754 shares for CNY 100,999,996, Yu Haibo subscribe 9433962 shares for CNY 39,999,998, Three Gorges Capital Holdings Co., Ltd subscribed 40424535 shares for CNY 171,400,028 and Xinjiang TBEA Group Co., Ltd. subscribed 14150943 shares for CNY 59,999,998. The shares are tradable shares subject to sales restrictions, which will be listed and traded on the Shanghai Stock Exchange on the next trading day after the expiration of the restriction period.

In case of statutory holidays or rest days, it will be postponed to the first trading day thereafter. The company has paid issuance cost of CNY 25,289,857.96 in the transaction.