On March 8, 2022, Baotailong New Materials Co., Ltd. closed the transaction. The company issued 310,857,142 ordinary shares at an issue price of CNY 3.98 per share for gross proceeds of CNY 1,237,211,425.16. The transaction included participation from China Asset Management Co., Ltd. for CNY 128,999,998.80, Generali China Asset Management Co., Ltd. for CNY 35,999,999.48, Shanghai Haitong Securities Asset Management Co., Ltd for CNY 93,999,998.20, China Merchants Fund Management Co.,Ltd. for CNY 34,999,996.62, UBS AG, Financial Services Investment Arm for CNY 88,999,999.82, Nuode Fund Management Co., Ltd. for CNY 141,399,999.24, China Galaxy Securities Co., Ltd., Investment Arm for CNY 40,999,997.86, Guotai Junan Securities Co., Ltd., Investment Arm for CNY 75,999,998.46, Caitong Fund Management Co., Ltd. for CNY 246,399,997.06, returning investor, CITIC Securities Investment Limited for CNY 56,999,999.84, individual investors, Jiang Zhiyuan for CNY 52,999,996.36, Tang Yanyuan for CNY 62,999,997.10, Dong Weiguo for CNY 34,999,996.62, Liu Guoli for CNY 59,999,996.48, Hong Zhonghai for CNY 45,999,996.24, Lin Jintao for CNY 34,999,996.62, Li Tianhong for CNY 411,460.36.

The securities issued to all the investors will subject to 6 months lock-up period. The company also paid issuance expenses of CNY 22,351,510.06. The net amount of funds raised in the transaction is CNY 1,214,859,915.10 among them, CNY 310,857,142.00 was included in the share capital and CNY 904,002,773.10 was included in the capital reserve.