On August 11, 2023, Innovation New Material Technology Co., Ltd. closed the transaction. The company issued 332,594,235 A shares at an issue price of CNY 4.51 per share for the gross proceeds of CNY 1,499,999,999.85. The company has disclosed the issue expenses of CNY 17,957,956.21 and the net proceeds is CNY 1,482,042,043.64.

The issuance cost include underwriting fees of CNY 14,150,943.40, capital verification fees of CNY 47,169.81, attorney fees for CNY 1,773,584.91, information disclosure fees of CNY 1,301,886.78, issuance handling fees and others of CNY 684,371.31. The registered capital of Innovation New Material Technology Co., Ltd after the change is CNY 4,336,192,838.00, and the accumulated share capital is CNY 4,336,192,838.00. The transaction included participation from new investors Nuode Asset Management Co., Ltd. for 42,350,332 shares for CNY 190,999,997.32, Yongan Futures Co.,Ltd for 22,172,949 shares for CNY 99,999,999.99, CITIC Securities Co., Ltd. for 10,864,745 shares for CNY 48,999,999.95, Caitong Fund Management Co., Ltd. for 50,332,594 shares for CNY 226,999,99, Guotai Junan Securities Co., Ltd. for 21,729,490 shares for CNY 97,999,999.90, UBS AG for 12,195,121 shares for CNY 54,999,995.71, Fulian Yuzhan Technology (Shenzhen) Co., Ltd. for 66,518,847 shares for CNY 299,999,999.97, Huatai Asset Management Co., Ltd.-Huatai Youyi Stock-Specific Pension Products-Agricultural Bank of China Limited for 9,977,827 shares for CNY 44,999,999.77, Huatai Asset Management Co., Ltd.-Tianan Life Insurance Co., Ltd.-Huatai Multi-Asset Portfolio for 9,977,827 shares for CNY 44,999,999.77, Shanghai Guotai Junan Securities Asset Management Co., Ltd.-Guotai Junan Asset Management Junde 3492 Single Asset Management Plan for 9,977,827 shares for CNY 44,999,999.77, Ningbo Jiatouyuan Equity Investment Partnership (Limited Partnership) for 11,086,474 shares for CNY 49,999,997.74, Guotai Fund Management Co., Ltd. for 9,977,827 shares for CNY 44,999,999.77, China Asset Management Co., Ltd. for 9,977,827 shares for CNY 44,999,999.77, Horizon Asset Management Co.

Ltd for 17,516,629 shares for CNY 78,999,996.79, Taikang Asset Management Co., Ltd.-Taikang Asset Juxin Stock Specialized Pension Products for 9,977,827 shares for CNY 44,999,999.77, Allianz Insurance Asset Management Co., Ltd.-Allianz Yuyuan Ruihui No. 1 Asset Management Product for 11,308,203 shares for CNY 50,999,995.53, Taikang Asset Management Co., Ltd.-Taikang Life Insurance Co., Ltd. investment-linked innovative power investment account for 6,651,889 shares for CNY 30,000,019.39.