On April 13, 2023, Xinjiang Xuefeng Sci-Tech(Group)Co.,Ltd closed the transaction. The company issued 105,124,835 shares at an issue price of CNY 7.61 per share for gross proceeds of CNY 799,999,994.35 in the transaction. After deducting various issuance expenses (excluding taxes) of CNY 13,588,279.29, the actual net amount of funds raised is CNY 786,411,715.06.

The transaction included participation from returning investor Xinjiang Baodi Investment Co., Ltd. for 6,570,302 shares and new investors Xinjiang Jade Bird Chengfeng Equity Investment Fund Limited Partnership for 4,415,243, Central Enterprise Rural Industry Investment Fund Co., Ltd. for 26,281,208, Underdeveloped Areas Industry Development Fund Co., Ltd. for 10,512,483 shares, Xinjiang Communication Capital Management Co., Ltd. for 7,884,362 shares, Xinjiang New Kinetic Energy Baotou Private Equity Investment Partnership (Limited Partnership) for 9,526,938, Haitong Securities Co., Ltd. for 3,858,081 shares, Shandong Huihan Industry Development Co., Ltd. for 3,942,181 shares, Nord Fund Management Co., Ltd. for 4,862,023 shares, Ningbo Meishan Bonded Port Zone Ben'an First Year Equity Investment Partnership (Limited Partnership) for 3,285,151 shares, Caitong Fund Management Co., Ltd. for 6,964,520 shares, Sumin Supply Chain Management Wuxi Co., Ltd. for 3,285,151 shares, CSC Financial Co., Ltd., Asset Management Arm for 3,224,709 and individual investors Wu Xiufang for 3,285,151 shares, Chen Zuoxiang for 3,942,181 shares and Li Jianfeng for 3,285,151 shares.