On December 19, 2022, Jiangsu Xiuqiang Glasswork Co., Ltd. closed the transaction. The company has issued 154,773,869 A shares at a price of CNY 5.97 per share for gross proceeds of CNY 923,999,997.93. The transaction included participation from returning investor Zhuhai Port Co.,Ltd. for 38,724,422 shares, Caitong Fund Management Co., Ltd. for 25,756,322 shares, Guotai Asset Management Co., Ltd. for 22,110,552 shares, Nuode Asset Management Co., Ltd. for Nuode Asset Management Co., Ltd. shares, Zhixuan No.

22 Private Securities Investment Fund, a fund managed by Hunan Light Salt Venture Capital Management Co., Ltd. for 8,728,643 shares, Taizhou Luqiao Huashun Jianxing Investment Partnership (Limited Partnership) for 8,375,209 shares, UBS Group AG for 7,537,688 shares, Qingdao Huixin Investment Partnership Enterprise (Limited Partnership) for 6,700,167 shares, Zhangjiagang Jinke Venture Capital Co., Ltd. for 5,025,125 shares, Jinan Hanxiang Investment Management Partnership Enterprise (Limited Partnership) for 5,025,125 shares, Guodu Benfu No. 5 Fixed Increase Private Investment Fund, a fund managed by Guodu Venture Capital Co., Ltd. for 3,517,587 shares, Xi'an Litian Asset Management Co., Ltd. for 3,517,587 shares also included individual investors including Zhang Qizhi for 5,025,125 shares and Xie Kai for 3,517,587 shares in the transaction. The company has paid CNY 9,832,200.37 as issuance expenses, including CNY 8,096,929.68 for sponsorship and underwriting fees, CNY 737,735.83 for audit and capital verification fee, CNY 924,528.31 for lawyer fee and CNY 73,006.54 for stock registration fee.

The company received net proceeds of CNY 914,167,797.56 in the transaction. All the securities issued in the transaction will subject to a hold period of eighteen months from the date of issuance.