On March 9, 2022, Huafon Chemical Co., Ltd. closed the transaction. The company issued 329,024,676 A shares at a price of CNY 8.51 per share for gross proceeds of CNY 2,799,999,992.76 in the transaction. Macquarie Bank Limited, Investment Arm for 11,750,881 shares for CNY 99,999,997, GF Securities Co., Ltd., Investment Arm for 16,803,760 shares for CNY 142,999,998, Chongqing Yufu Capital Operation Group Co., Ltd. for 11,750,881 shares for CNY 99,999,997, UBS AG for 15,605,170 shares for CNY 132,799,997, Caitong Fund Management Co., Ltd. for 21,034,077 shares for CNY 178,999,995, China Life Insurance Assets Management Co.

Ltd. for 23,501,762 shares for CNY 199,999,995, Anhui Railway Development Fund Co., Ltd. for 11,750,881 shares for CNY 99,999,997, Nuode Fund Management Co., Ltd. for 24,667,173 shares for CNY 209,917,642, China Asset Management Co., Ltd. for 17,978,848 shares for CNY 152,999,996, China Southern Asset Management Co., Ltd. for 12,338,425 shares for CNY 104,999,997, Shenzhen Ruiyuan Fund Management Co., Ltd. for 158,260,869 shares for CNY 1,346,799,995 and China Pacific Life Insurance Co., Ltd. for 3,581,949 shares for CNY 30,482,386. The company paid CNY 26,707,547.08 as issuance expenses (including sponsorship and underwriting fees of CNY 24,103,773.55, Audit and verification fee of CNY 754.716.98 and lawyer fee of CNY 1,849,056.55) and received net proceeds of CNY 2,773,292,445.68.