On June 13, 2023, Xiamen Xindeco Ltd. closed the transaction. The company issued 136,569,730 shares at an issue price of CNY 5.19 per share for the gross proceeds of CNY 708,796,898.70. The transaction included participation from new investors Caitong Fund Management Co., Ltd. for 33,911,368 shares for CNY 175,999,999.92, Nuode Asset Management Co., Ltd. for 29,825,997 shares for CNY 154,796,924.43, Xiamen ITG Holding Group Co.,Ltd. for 27,360,308 shares for CNY 141,999,998.52, China Asset Management Co.

Ltd. for 13,487,475 shares for CNY 69,999,995.25, Guotai Junan Asset Management (Asia) Co., Ltd. for 8,092,485 shares for CNY 41,999,997.15, Li Tianhong for 6,358,381 shares for CNY 32,999,997.39, AEGON-Industrial Fund Management Co. Ltd. for 5,009,633 shares for CNY 25,999,995.27, Dong Weiguo for 4,816,955 shares for CNY 24,999,996.45, JPMorgan Chase Bank, National Association for 3,853,564 shares for CNY 19,999,997.16 and Xi'an Litian Private Fund Management Co., Ltd.—Litian Investment No. 3 Private Securities Investment Fund for 3,853,564 shares for CNY 19,999,997.16.

Prior to the issuance, Xiamen ITG Holding Group Co.,Ltd. owns 242,506,928 shares, accounting for 42.92% stake in the company. After the issuance, Xiamen ITG Holding Group Co.,Ltd. owns 269,867,236 shares, accounting for 38.47% stake in the company; Dong Weiguo owns 4,816,955 shares, accounting for 0.69% stake. The company has disclosed the issue expenses of CNY 8,832,844.36 in the transaction.

The net proceeds of the transaction is CNY 699,964,054.34