On July 1, 2022, Shandong Dawn Polymer Co.,Ltd. closed the transaction. The company issued 37,415,128 A shares at a price of CNY 20.62 per share for gross proceeds of CNY 771,499,939.36. Post to the closing, the registered capital of the company will increase from CNY 409,492,278 to CNY 446,907,406.

The company incurred issue expense in respect of the transaction of CNY 11,490,756.62. The transaction included participation from returning investor Dawn Group Co., Ltd., for 2,424,831 shares for gross proceeds of CNY 50,000,015.22, new investors Shanghai Youyou Caifu Investment Management Co., Ltd. for 10,184,287 shares for gross proceeds of CNY 209,999,997.94, Galaxy Capital Asset Management Co. Ltd for 4,122,211 shares for gross proceeds of CNY 84,999,990.82, Qingdao Huazi Huijin Investment Partnership Enterprise (Limited Partnership) for 460,717 shares for gross proceeds of CNY9,499,984.54 , Qingdao Huazi Shengtong Equity Investment Fund Partnership Enterprise (Limited Partnership) for 4,849,660 shares for gross proceeds of CNY 99,999,989.20 , funds managed by Qingdao S&T Venture Capital Co., Ltd., UBS Group AG for 1,454,898 shares for gross proceeds of CNY 29,999,996.76, Beijing Yi'an Capital Management Co., Ltd. for 1,212,415 shares for gross proceeds of CNY 24,999,997.30, China Asset Management Co., Ltd. for 3,491,755 shares for gross proceeds of CNY 71,999,988.10, GF Securities Co., Ltd., Investment Arm for 3,879,728 shares for gross proceeds of CNY 79,999,991.36, Nuode Asset Management Co., Ltd. for 5,334,626 shares for gross proceeds of CNY 109,999,988.12.