On December 25, 2023, Hubei Fuxing Science and Technology Co.,Ltd closed the transaction. The company issued 223,491,752 A shares at an issue price of CNY 3.64 for the gross proceeds of CNY 813,509,977.28. The company has paid the issuance expenses of CNY 7,907,575.25 and the net proceeds of the transaction is CNY 805,602,402.03.

The securities are restricted to a hold period of 6 months. The transaction included participation new investors Nuode Asset Management Co., Ltd. 55,903,846 shares for CNY 203,489,999.44, Caitong Fund Management Co., Ltd. 32,791,208 shares for CNY 119,359,997.12, Huang Liquan 27,472,527 shares for CNY 99,999,998.28, Guotai Junan Securities Co., Ltd. 21,978,021 shares for CNY 79,999,996.44, CSC Financial Co., Ltd. 17,032,967 shares for CNY 61,999,999.88, Guotai Junan Financial Holdings Limited 16,483,516 shares for CNY 59,999,998.24, Su Tong 13,736,263 shares for CNY 49,999,997.32, UBS AG 10,164,835 shares for CNY 36,999,999.40, Zhang Mingyuan 8,423,076 shares for CNY 30,659,996.64, Qingdao Luxiu Investment Management Co., Ltd. - Luxiu Wuhua Private Securities Investment Fund 8,241,758 shares for CNY 29,999,999.12, Zhu Shuqin 4,120,879 shares for CNY 14,999,999.56, Xie Kai 3,021,978 shares for CNY 10,999,999.92, Liu Fujuan 2,747,252 shares for CNY 9,999,997.28 and Lihua Private Placement Chongyang Private Securities Investment Fund 1,373,626 shares for CNY 4,999,998.64.