On June 11, 2020, Ocean's King Lighting Science & Technology Co., Ltd. (SZSE:002724) closed the transaction. The company has issued 23,032,258 shares at a price of CNY 5.89 per share for gross proceeds of CNY 135,659,999.62 in the transaction. The transaction included participation from Chongqing Zhongxin Rongxin Investment Center (Limited Partnership), a fund managed by Chongqing Zhongxin Rongchuang Investment Co., Ltd. subscribing 8,488,964 shares for CNY 49,999,997.96 and Shenzhen Yuanzhi Huaxin Emerging Industry Equity Investment Fund Partnership Ent (L.P.), a fund managed by Shenzhen Yuanzhi Ruixin Equity Investment Management Co., Ltd. subscribing 14,543,294 shares for CNY 85,660,001.66 subject to hold period of 6 months. Out of total proceeds CNY 23,032,258.00 is included in the share capital and rest was included in capital reserve. The company has completed the issue of matching funds for non-public offering of shares, and received the Confirmation of Acceptance of Share Registration Application by Shenzhen Branch of China Securities Depository and Clearing Co., Ltd.