On October 12, 2022, Jiangsu Dongfang Jiutian New Energy Materials Co., Ltd. closed the transaction. The company has completed the registration modification procedures and obtained the business license issued by Taixing Administrative Examination and Approval Bureau. Post-closing of the transaction, the registered capital of the company increased from CNY 200,000,000 to CNY 389,200,000.

Post closing, the investor has retained its 100% stake in the company.