On July 9, 2021, Xiangcai Co., Ltd. closed the transaction. The company has issued 172,968,124 A shares at an issue price of CNY 10.04 per share for gross proceeds of CNY 1,736,599,964.96. The transaction has issue expenses of CNY 1.339865 and net proceeds of CNY 172.320409. Zhongzhun Certified Public Accountants Co., Ltd. verified the availability of the funds raised and issued the "Capital Verification Report" (Zhong Zhun Yan Zi [2021] No. 2057)..

On July 23, 2021, the company announced that the transaction included participation from new investors Beijing New Power Quality Enterprise Development Fund (Limited Partnership) for 15,936,254 shares and 0.56% stake for proceeds of CNY 159.99999, Guotai Junan Securities Co., Ltd. for 23,207,171 shares and 0.81% stake for proceeds of CNY 232.99999, Tianfeng Securities Co., Ltd. for 26,892,430 shares and 0.94% stake and proceeds of CNY 269.99999, Suzhou Investment Co. Ltd. for 14,940,239 shares and 0.52% stake and proceeds of CNY 14.99999, Gu Jianhua for 23,336,653 shares and 0.82% stake for proceeds of CNY 234.299996, and returning investors Greatwall Life Insurance Co.,Ltd. 4,980,079 shares for proceeds of CNY 49.99999, Soyea Jiu Rong Technology Co., Ltd. for 9,960,159 shares and proceeds of CNY 99.99999, Donghai Securities Co., Ltd. for 13,375,498 shares and proceeds of CNY 134.28999, Nuode Asset Management Co., Ltd. for 13,447,211 shares for proceeds of CNY 135.00999, Huatai Securities (Shanghai) Asset Management Co., Ltd. for 13,446,215 shares for proceeds of CNY 134.99999 and Chen Juanping for 13,446,215 shares and proceeds of CNY 134.999998.