On March 9, 2023, Lonkey Industrial Co.,Ltd.Guangzhou closed the transaction. The company has issued 223,048,327 A shares at a price of CNY 2.69 per share for gross proceeds of CNY 599,999,999.63. The transaction included participation from Guangzhou Light Industry & Trade Group Ltd. for 25.22% stake, increased from 14.88%.

The company has received net proceeds of CNY 592,645,151.92 of which CNY 223,048,327 was added to the registered capital and the balance of CNY 369,596,824.92 was transferred to the capital reserve. The company has paid CNY 7,354,847.71 as fee in fee in the transaction.