On July 20, 2021, Henan Yicheng New Energy Co., Ltd. closed the transaction. The company issued 80,740,735 shares a an issue price of CNY 4.05 per share for gross proceeds of CNY 327,000,000. The company received net proceeds of CNY 323,127,580.10.

The transaction will included participation from Henan Aokai Investment Co., Ltd. for 4,938,271 shares for CNY 19,999,997.55 , Ningbo Ningju Asset Management Center (Limited Partnership) 4,938,271 shares for CNY 19,999,997.55, Shanghai Boshen Investment Center (Limited Partnership) for 7,654,320 shares for CNY 30,999,996.00, Hunan Light Salt Venture Capital Management Co., Ltd. for 13,333,333 shares for CNY 53,999,998.65, China Galaxy Securities Co., Ltd. for 8,641,975 shares for CNY 34,999,998.75, Caitong Fund Management Co., Ltd. for 9,135,802 shares for CNY 36,999,998.10, Bie Wensan for 4,938,271 shares for CNY 19,999,997.55, Wang Junwei for 4,938,271 shares for CNY 19,999,997.55, He Lijuan for 9,876,543 shares for CNY 39,999,999.15, Dong Weiguo for 7,407,407 shares for CNY 29,999,998.35 and Lin Jintao for 4,938,271 shares for CNY 19,999,997.55