On April 20, 2020, Gem-Year Industrial Co., Ltd. (SHSE:601002) closed the transaction. The company amended the terms of the transaction. The company announced that it has signed the tripartite supervision agreement for the special account of the raised funds. The company now issued 96,823,780 shares at an issue price of CNY 5 per share for gross proceeds of CNY 484,118,900 in the transaction. The transaction involved participation from 12 specific investors. The asset subscription amount was CNY 308,571,100 and cash portion was CNY 484,118,900. The underwriting fees and other issuance expenses totaled CNY 10,342,408.90, the actual net cash raised was CNY 473,776,491.10. The funds raised from this issuance have been fully accounted and have been confirmed by Pan-China Certified Public Accountants LLP [2020] No. 86 Capital Verification Report. Post the closing of the transaction, share capital increased from 792,690,000 shares to 951,228,000 shares. The total number of shares held by Chin Champ Enterprise Co., Ltd., Chin Champ Investment Co., Ltd., and Chin Champ Trade Co., Ltd. increased from 327,755,207 shares to 429,469,427 shares. The shareholding ratio of the investors increased from 41.35% to 45.15% after the issuance. The shares issued in the transaction have a hold period of 36 months by Chin Champ Enterprise Co., Ltd., Chin Champ Investment Co., Ltd., and Chin Champ Trade Co., Ltd., and 6 months hold period for all other subscribers.