On August 18, 2021, Shanghai Lisheng Racing Co.,Ltd. closed the transaction. The company issued 33,605,838 shares at an issue price of CNY 11.62 per share. The transaction involved participation from Shen Jingfeng for 1,721,170 shares for gross proceeds of CNY 19,999,995.40, Jiang Yue for 1,290,877 shares for CNY 14,999,990.74, Qian Cuishi for 1,721,170 for 19,999,995.40, Qiu Xuelin for 1,290,877 for CNY 14,999,990.74, Xie Kai for 1,893,287 shares for CNY 21,999,994.94, Zhu Ruyi for 1,290,877 shares for CNY 14,999,990.74, Fan Guangli for 1,549,053 shares for CNY 17,999,995.86, Guo Jinsheng for 1,462,994 shares for CNY 16,999,990.28, Hainan Yundongjia Sports Technology Investment Partnership Enterprise (Limited Partnership) for 2,710,843 shares for CNY 31,499,995.66, Ningju Quantitative Multi-Strategy Securities Investment Fund for 3,442,340 shares for CNY 39,999,990.80 for 2.15% stake and Ningju Yingshanhong No. 9 Private Securities Investment Fund for 1,290,877 shares for gross proceeds of CNY 14,999,990.74, both funds co-managed by Ningbo Ningju Asset Management Center (Limited Partnership) for gross proceeds of CNY 54,999,981.54, Yuemintou Huiqiao No. II (Shenzhen) Investment Partnership Enterprise (Limited Partnership) for 4,302,925 shares for CNY 49,999,988.50 for 2.69% stake and investors. The company paid CNY 9,000,000 for underwriting and sponsorship fee, CNY 550,000 for legal fee, CNY 600,000 for audit and verification fee, and CNY 280,000 for information disclosure fee.