On July 11, 2022, Qingdao Hiron Commercial Cold Chain Co., Ltd. closed the transaction. The company issued 31,575,623 shares for an aggregate gross proceeds of CNY 999,999,980.41. The transaction included participation from Valin Jinshan (Tianjin) Industrial Investment Fund Partnership (Limited Partnership), CITIC Securities Company Limited, Taiping Fund Management Co., Ltd., Guotai Junan Asset Management (Asia) Co., Ltd., Li Xuesen, Huatai Asset Management-Industrial Bank-Huatai Asset Value Selected Asset Management Products, and Huatai Asset Management-Guangzhou Rural Commercial Bank-Huatai Asset Value Preferred Asset Management Products.

The company has paid issue expenses of CNY 16,226,414.82 receiving net proceeds of CNY 983,773,565.59 in the transaction.