On July 1, 2021, Hamaton Automotive Technology Co.,Ltd. closed the transaction. The company issued 30,000,000 common shares at an issue price of CNY 9.92 per share for gross proceeds of CNY 297,600,000. The transaction included participation from Hangzhou Financial Investment Group Co., Ltd for 15,120,967 shares, Hangzhou Fuyang Jintong Equity Investment Partnership (Limited Partnership) for 9,072,580 shares, Ether Investment Value No. 1 Private Equity Fund, a fund managed by Qingdao Ether Investment Management Co., Ltd. for 3,024,193 shares, and Yang Fujin for 2,782,260 shares. The transaction had issuance expenses such as underwriting and sponsorship fees, accountant fees, and attorney fees for CNY 80,010,231.98 and net proceeds of CNY 289589768.02. Out of the total proceeds CNY 30,000,000 will go towards registered capital and remaining proceeds of CNY 259,589,768.02 will go towards capital reserve. The company has received a capital verification report. The shares issued to the investors are subject to restriction period of 6 months.