On December 14, 2022, Beijing Tianyishangjia New Material Corp., Ltd closed the transaction. The company issued 111,438,808 A shares, with a face value of CNY 1 per share, at an issue price of CNY 20.81 per share for gross proceeds of CNY 2,319,041,594.48 in the transaction. After deducting underwriting and sponsorship fees, issuance registration fees and other transaction fees totaling CNY 22,454,748.24, the net proceeds received by the company was CNY 2,296,586,846.24 in the transaction.