On March 2, 2022, Jinhong Fashion Group Co.,Ltd. closed the transaction. The company amended the terms of the transaction. The company issued 50,568,563 Shares at an issue price of CNY 9.19 per share for proceeds of CNY 464,725,093.97 in the transaction.

The transaction included participation from Huatai Asset Management Co., Ltd. for 8,705,112 shares for CNY 79,999,979.28; Zongguan Xinhe No. 3 Private Securities Investment Fund, a fund managed by Shenzhen Zongguan Capital Management Co., Ltd. for 12,393,906 shares for proceeds CNY 113,899,996.14; and Zhong Ou Fund Management Co., Ltd for 6,082,698 shares for proceeds CNY 55,899,994.62; and other investors.