On June 1, 2021, Puyang Huicheng Electronic Material Co., Ltd. (SZSE:300481) closed the transaction. The company issued 37,243,947 shares representing 12.65% stake at a price of CNY 21.48 per share for gross proceeds of CNY 799,999,981.56 in the transaction. The company has received net proceeds of CNY 788,898,808.02 in the transaction.

The company's share capital was increased by CNY 37,243,947 and the capital reserve was increased by CNY 751,654,861.02 upon closing. The transaction included participation from Goldman Sachs & Co. LLC subscribing 2,327,746 shares for CNY 49,999,984.08 representing 0.79% stake, UBS Group AG (SWX:UBSG) subscribing 1,210,428 shares for CNY 25,999,993.44 representing 0.41% stake, Changzhou New Development Industrial Co., Ltd. subscribing 1,210,428 shares for CNY 25,999,993.44 representing 0.41% stake, Huarong Securities Co., Ltd. subscribing 1,210,428 shares for CNY 25,999,993.44 representing 0.41% stake, China Asset Management Co., Ltd. 4,143,389 shares for CNY 88,999,995.72 representing 1.41% stake, Morgan Stanley & Co.

International plc subscribing 1,256,983 shares for CNY 26,999,994.84 representing 0.43% stake, Nanjing Iron & Steel Co., Ltd. (SHSE:600282) subscribing 372,444 shares for CNY 8,000,097.12 representing 0.13% stake, Nuode Asset Management Co., Ltd. subscribing 1,396,648 shares for CNY 29,999,999.04 representing 0.47% stake, Industrial Asset Management Co., Ltd. subscribing 2,374,301 shares for CNY 50,999,985.48 representing 0.81% stake, Galaxy Capital Asset Management Co., Ltd. subscribing 4,655,493 shares for CNY 99,999,989.64 representing 1.58% stake, Chunda Ruijin Innovative Growth No.2 Private Securities Investment Fund, a fund managed by Shanghai Chunda Asset Management Co., Ltd. subscribing 1,210,428 shares for CNY 25,999,993.44 representing 0.41% stake, CITIC Capital Growth Strategic Enhancement No. 1 Private Securities Investment Fund and CITIC Capital China Value Growth Private Securities Investment Fund, funds managed by CITIC Capital (Shenzhen) Investment Management Co., Ltd. subscribing 2,420,856 shares for CNY 51,999,986.88, Gongqingcheng Dingrui No. 1 Investment Management Center (L.P.), a fund managed by Komsomolsk Peak Asset Management Co., Ltd. subscribing 1,862,197 shares for CNY 39,999,991.56 representing 0.63% stake, Hualing Jinshan (Tianjin) Industry Investment Fund Partnership Enterprise (L.P.), a fund managed by Valin Jinshan Industrial Investment Management Co., Ltd. subscribing 1,396,648 shares for CNY 29,999,999.04 representing 0.47% stake, Jilin Changbai Mountain Equity Investment Management Co., Ltd. subscribing 3,491,620 shares for CNY 74,999,997.60 representing 1.19% stake, existing investor Caitong Fund Management Co., Ltd. subscribing 2,048,417 shares for CNY 43,999,997.16 representing 0.70% stake, and individual investor Zhan Chuntao subscribing 4,655,493 shares for CNY 99,999,989.64 representing 1.58% stake.