On January 16, 2023, AVIT Ltd. closed the transaction. The company issued 17,757,518 shares at an issue price of CNY 5.32 per share for gross proceeds of CNY 94,469,995.76 in the transaction. The transaction included participation from Caitong Fund Management Co., Ltd. for 4,605,250 shares for CNY 24,499,930; Chen Kunjiang for 5,639,097 shares for CNY 29,999,996.04; Tao Hanyue for 375,939 shares for CNY 1,999,995.48; Qiu Jiafen for 3,759,398 shares for CNY 19,999,997.36; Yu Zhenhuan for 1,691,729 shares for CNY 8,999,998.28; and Zhuang Xiaopeng for 1,686,105 shares for CNY 8,970,078.60.

The company incurred total issuance expenses of CNY 4,137,507.06 and raised net proceeds of CNY 90,332,488.70 in the transaction. The shares the investors subscribe to cannot be transferred within 6 months from the issuance closing date.