On December 5, 2023, VT Industrial Technology Co.,Ltd closed the transaction. The company issued 20,000,000 A shares at an issue price of CNY 17.78 per share for gross proceeds of CNY 355,600,000 in the transaction. The transaction included participation new investors, Guosen Securities Co., Ltd., Investment Arm for CNY 19,999,993.02, UBS AG for CNY 14,999,990.32, Caitong Fund Management Co., Ltd. for CNY 128,669,610.58, First State Cinda Fund Management Company Limited for CNY 19,999,939.68, Nuode Asset Management Co., Ltd. for CNY 128,009,599.2, Huaan Securities Co., Ltd., Investment Arm for CNY 15,999,866.4, China Asset Management Co.

Ltd for CNY 12,921,010.48, and new individual investor, Xu Yurong for CNY 14,999,990.32. After deducting the issuance fee of CNY 9,475,547.11 excluding VAT, the actual net amount of funds raised was CNY 346,124,452.89, of which CNY 20,000,000 was included in the share capital and CNY 326,124,452.89 was included in the capital reserve. The shares issued in the transaction is subject to lock up period of 6 months from the closing of the transaction.