On January 24, 2022, UCloud Technology Co., Ltd. closed the transaction. The company issued 30,289,917 shares at a price of CNY 23.11 per share for gross proceeds of CNY 699,999,981.87 in the transaction. The transaction included participation from Wanjia Asset Management Co., Ltd. for 10,817,827 shares for CNY 249,999,981.97, China Asset Management Co., Ltd. for 5,884,898 shares for CNY 135,999,992.78, Liu Shiqiang for 4,327,131 shares for CNY 99,999,997.41, Caitong Fund Management Co., Ltd. for 3,375,164 shares for CNY 78,000,040.04, Nuode Asset Management Co., Ltd. for 1,990,480 shares for CNY 45,999,992.80, Barclays PLC for 1,298,139 shares for CNY 29,999,992.29, Huatai Asset Management Co., Ltd. (Huatai Youyi No.5 Hybrid Pension Product-Bank of China Limited) for 1,298,139 shares for CNY 29,999,992.29 and Yang Yuezhi for 1,298,139 shares for CNY 29,999,992.29.

The company paid issuance expenses of CNY 8,713,704.16 and received net proceeds of CNY 691,286,277.71 in the transaction.