On March 4, 2022, Ling Yun Industrial Corporation Limited closed the transaction. The company has issued 153,503,893 shares at a price of CNY 8.99 per share for gross proceeds of CNY 1,379,999,998.07. The transaction included participation from North Lingyun Industrial Group Co., Ltd. for 38,932,146 shares for CNY 349,999,992.54, North Industries Group Investment Management Company Ltd. for 16,685,205 shares for CNY 149,999,992.95, Industrial Investment Fund Co., Ltd. for 40,044,493 shares for CNY 359,999,992.07, Industry Development Fund (Limited Partnership) for 23,114,576 shares for CNY 207,800,038.24, Nanfang Tianchen (Beijing) Investment Managentment Co., Ltd.-Nanfang Tianchen Jingsheng Phase 8 Private Securities Investment Fund, a fund managed by Nanfang Tianchen (Beijing) Investment Managentment Co., Ltd. for 7,786,429 shares for CNY 69,999,996.71, Nanfang Tianchen (Beijing) Investment Managentment Co., Ltd.-Nanfang Tianchen Jingsheng Phase 23 Private Securities Investment Fund, a fund managed by Nanfang Tianchen (Beijing) Investment Managentment Co., Ltd. for 5,439,377 shares for CNY 48,899,999.23, Chongqing South Industry Equity Investment Fund Partnership Enterprise (Limited Partnership) for 5,561,735 shares for CNY 49,999,997.65, Shandong Huihan Industry Development Co., Ltd. for 5,561,735 shares for CNY 49,999,997.65, and First Capital Securities Co., Ltd. for 10,378,197 shares for CNY 93,299,991.03.

The company paid issuance fee of CNY 13,614,160.99 and received net proceeds of CNY 1,366,385,837.08 in the transaction. Pursuant to the transaction, the share capital of the company has increased from 763,461,517 to 916,965,410.