On August 6, 2020, Zhongjin Gold Corp., Ltd. (SHSE:600489) closed the transaction. The company issued 204,708,290 shares at a price of CNY 9.77 per share for gross proceeds of approximately CNY 1,999,999,993. The transaction included participation from individual investor Wang Min for 102,354,145 shares for gross proceeds of CNY 999,999,996.65, Guosen Securities Co., Ltd., Investment Arm for 6,141,248 shares for gross proceeds of CNY 59,999,992.96, Guoxin Investment Co., Ltd. for 10,235,414 shares for gross proceeds of CNY 99,999,994.78, Truvalue Asset Management Co.,Ltd. for 10,259,979 shares for gross proceeds of 100,239,994.83, JPMorgan Chase Bank, National Association for 12,282,497 shares for gross proceeds of CNY 119,999,995.69, China International Capital Corporation Limited (SEHK:3908) for 30,706,243 shares for gross proceeds of CNY 299,999,994.11 and Central Enterprise Poverty Area Industry Investment Fund Co., Ltd., a fund managed by SDIC Chuangyi Industry Fund Management Co., Ltd. for 32,728,764 shares for gross proceeds of 319,760,024.28.

As a result, total share capital of the target company has increased to 4,847,312,564 shares. The company paid underwriting fees of CNY 7,999,999.97, issuance costs deductible value-added tax input tax of CNY 464,150.94 and other issuance expenses of CNY 200,000 in the transaction. The shares issued in the transaction have a lockup period of 6 months.