On November 23, 2021, Sunwave Communications Co.Ltd closed the transaction. The company issued 101,695,646 shares at a price of CNY 4.60 per share for gross proceeds of CNY 467,799,971.60. The company incurred issuance cost of CNY 14,288,549.12.

The company added CNY 101,695,646.00 as registered capital and CNY 351,815,776.48 as capital reserve.