On September 16, 2022, Yunnan Coal & Energy Co.,Ltd. closed the transaction. The company issued 94,736,800 shares at an issue price of CNY 9.50 per share for gross proceeds of CNY 899,999,600. The transaction has been approved by the China Securities Regulatory Commission.

The transaction included participation from returning investor, Kunming Iron & Steel Holding Co., Ltd. and other investor.