On October 19, 2022, Wuxi Longsheng Technology Co.,Ltd closed the transaction. The company issued 29,172,890 A shares at an issue price of CNY 24.53 per share for gross proceeds of CNY 715,610,991.70 on October 19, 2022. After reducing issue expenses, the company received net proceeds of CNY 706,735,044.05 in the transaction.

The transaction included participation from individual investor Ni Ming for 1,222,992 shares for gross proceeds of CNY 29,999,993.76, Caitong Fund Management Co., Ltd. for 11,051,747 shares for gross proceeds of CNY 271,099,353.91, GF Securities Asset Management Co., Ltd. for 8,055,442 shares for gross proceeds of CNY 197,599,992.26, Fullgoal Fund Management Co., Ltd. for 2,038,320 shares for gross proceeds of CNY 49,999,989.60, Nuode Asset Management Co., Ltd. for 1,655,105 1,655,105 CNY 40,599,725.65, individual investor Zhou Xueqin for shares for gross proceeds of CNY 39,999,991.68, individual investor Sun Yinghong for 1,426,824 shares for gross proceeds of CNY 34,999,992.72, Golden Eagle Asset Management Co. Ltd. for 1,141,459 shares for gross proceeds of CNY 27,999,989.27 and Ruihua Selected No. 9 Private Securities Investment Fund , a fund managed by Jiangsu Ruihua Investment Management Co., Ltd. for 950,345 shares for gross proceeds of CNY 23,311,962.85.

After the issuance, Ni Ming owns 18,665,172 shares in the company, accounting for 8.08% stake.