On May 17, 2022, Jiangsu Lopal Tech. Co., Ltd. closed the transaction. The company issued 82,987,551 A shares at the price of CNY 26.51 per share for gross proceeds of CNY 2,199,999,977.01.

The shares issued in the transaction shall not be transferred within 6 months from the date of the end of the offering. The company incurred issue expenses in respect of the transaction as underwriting and sponsorship fees of CNY 23,100,000, audit and capital verification fees of CNY 471,698.11, attorney fees of CNY 754,716.98, registration fee of CNY 78,290.14, material cost of CNY 64,150.95. The transaction included participation from China Universal Fund Management Co., Ltd. for 13,202,565 shares for gross proceeds of CNY 349,999,998.15, Caitong Fund Management Co., Ltd. for 11,757,834 shares for gross proceeds of CNY 311,700,179.34, Caitong Securities Asset Management Co.,Ltd for 8,675,971 shares for gross proceeds of CNY 229,999,991.21, Nuode Fund Management Co., Ltd. for 6,310,826 shares for gross proceeds of CNY 167,299,997.26, Jinan Jiangshan Investment Partnership (Limited Partnership) for 5,658,242 shares for gross proceeds of CNY 149,999,995.42, Chengdu Zhenxing Jiaye No.

2 Equity Investment Center (Limited Partnership) for 5,658,242 shares for gross proceeds of CNY 149,999,995.42, JPMorgan Chase Bank, National Association for 5,507,355 shares for gross proceeds of CNY 145,999,981.05, Win Hengjiuzhong Risk Control Strategy Phase 2 Private Equity Investment Fund, a fund managed by Gongqingcheng Shengheng Investment Management Co., Ltd. for 4,526,593 shares for gross proceeds of CNY 119,999,980.43, CITIC Securities Investment Limited for 4,451,150 shares for gross proceeds of CNY 117,999,986.50, China Asset Management Co., Ltd. for 4,413,428 shares for gross proceeds of CNY 116,999,976.28, BNP Paribas SA for 2,942,285 shares for gross proceeds of CNY 77,999,975.35, CITIC Securities Capital Management Co., Ltd. for 2,753,677 shares for gross proceeds of CNY 72,999,977.27, Light Salt Zhixuan No. 13 Private Securities Investment Fund, a fund managed by Hunan Light Salt Venture Capital Management Co., Ltd. for 2,376,461 shares for gross proceeds of CNY 62,999,981.11, HFT Investment Management Co., Ltd. for 2,376,461 shares for gross proceeds of CNY 62,999,981.11, Zhou Xueqin for 2,376,461 shares for gross proceeds of CNY 62,999,981.11.