On September 3, 2021, Sanxiang Advanced Materials Co., Ltd. closed the transaction. The transaction included participation from Nuode Asset Management Co., Ltd. for 729,376 shares and proceeds of CNY 14,499,994, Capital Securities Corporation for 553,319 shares and proceeds of CNY 10,999,981, Caitong Fund Management Co., Ltd. for proceeds of 4,706,171 shares and proceeds of CNY 93,558,679, Zhang Huaibin for 2,533,953 shares and proceeds of CNY 50,374,985, Ju Xiaobo for 556,086 shares and proceeds of CNY 11,054,989, Xu Guoxin for 1,987,493 shares and proceeds of CNY 39,511,360. The company issued 11,066,398 shares at issue price of CNY 19.88 per share for gross proceeds of CNY 219,999,992.24.

The company incurred expenses of CNY 3,923,647.49 receiving net proceeds of CNY 216,076,344.75.