On April 13, 2023, Yibin Libao New Materials Co., Ltd. closed the transaction. The company received CNY 752 million in its second tranche. The company has received CNY 2,578 million in the transaction.

The transaction included participation from new investors, Ningbo Meishan Bonded Port Area Chendao Investment Partnership Enterprise (L.P.), GEM Co., Ltd. and GAC Capital Co., Ltd.