On January 6, 2022, Zhejiang Zhaofeng Mechanical and Electronic Co.,Ltd. closed the transaction. The company issued 4,252,172 A shares at a price of CNY 54.09 per share for gross proceeds of CNY 229,999,983.48. The transaction included participation from UBS Group AG for CNY 24,999,965.28, China Asset Management Co., Ltd. for CNY 36,999,994.05, Nuode Fund Management Co., Ltd. for CNY 14,999,968.35, Pan Xiangning for CNY 17,999,962.02, Taikang Life Insurance Co., Ltd. Investment-linked Balanced Allocation Investment Account for CNY 19,999,993.86, Taikang Life Insurance Co., Ltd. Investment Linked An Ying Return Investment Account for CNY 19,999,993.86, Taikang Asset Juxin Stock Special Pension Product for CNY 19,999,993.86, Time Investment Management Limited for CNY 19,999,993.86, China Industrial Securities Global Fund Management Co., Ltd. for CNY 9,999,996.93, Fujian Pingtan Infund Asset Management Co., Ltd. for CNY 9,999,996.93, Caitong Fund Management Co., Ltd. for CNY 35,000,124.48.

The securities are subject to 6 months lock-up period. The company also paid issuance cost of CNY 4,872,641.48 excluding tax, the net amount of proceeds were CNY 225,127,342, of which CNY 4,252,172.00 was included in the paid-in share capital and RMB 220,875,170.00 was included in the capital reserve.