On May 17, 2021, Guangdong Xiongsu Technology Group Ltd. (SZSE:300599) closed the transaction. The company issued 54,131,567 shares at a price of CNY 9.25 per share for gross proceeds of CNY 500,716,994.75. The company issued 4,972,972 shares to Guan Zhengsheng for CNY 45,999,991, 4,108,108 shares to Huizhou Longjun Investment Co., Ltd. – Longjun Mingxi Advantage No. 1 Private Securities Investment Fund for CNY 37,999,999 for 1.15% stake, 3,783,783 shares to Chen Yuxiang for CNY 34,999,992.75 for 1.06% stake, 3,243,243 shares each to Guangzhou Wanbao Changsheng Asset Management Co., Ltd. – Guangzhou Industrial Control Mixed Reform Equity Investment Fund Partnership Enterprise (Limited Partnership), Yang Junmin, Tan Lunhui, Wu Huiping, Chen Shaoming and Ning Yong for CNY 29,999,997.75 each for 0.91% stake each, 2,702,702 shares each to Guangdong Jiujiang Distillery Co., Ltd. and Li Shuxia for CNY 19,999,998.50 each, 1,837,837 shares to Zeng Wenzhong for CNY 16,999,992.25, 1,729,729 shares to Hou Dan for CNY 15,999,993.25, 1,621,621 shares each to Goldman Sachs & Co. LLC, Mai Ganlin, Zhao Peiqiong, CCB Principal Asset Management Co., Guoren Property & Casualty Insurance Co.,Ltd. and Shanghai Boshen Investment Center (Limited Partnership) – Boshen No. 29 Securities Investment Private Fund for CNY 14,999,994.25 each and 1,482,928 shares to Xu Huijuan for CNY 13,717,084.