On February 16, 2023, CNNC Hua Yuan Titanium Dioxide Co., Ltd closed the transaction. The company issued 893,200,000 shares at an issue price of CNY 5.92 per share for gross proceeds of CNY 5,249,443,962.680. The transaction included participation from Central Enterprise Rural Industry Investment Fund Co., Ltd., a fund managed by, SDIC Unity Capital Co., Ltd. for 118,243,243 shares, Youcai Xinxin No.

2 Private Securities Investment Fund, a fund managed by, Shanghai Youyou Wealth Investment Management Co., Ltd. for 33,783,783 shares, Gansu Great Wall Xinglong Silk Road Fund (Limited Partnership), a fund managed by, Gansu Great Wall Xinglong Silk Road Fund Management Co., Ltd. for 35,472,972 shares, Golden Eagle Asset Management Co. Ltd. for 48,310,810 shares, UBS Group AG for 77,871,621 shares, Huatai Securities Co., Ltd., Investment Arm for 56,756,756 shares, China Everbright Securities (HK) Limited, Investment Arm for 57,770,270 shares, Haitong Securities Co., Ltd., investment arm for 92,398,648 shares, GTJA Innovation Investment Co., Ltd. for 61,317,567 shares, Caitong Fund Management Co., Ltd. for 49,113,175 shares, Nuode Asset Management Co., Ltd. for 55,743,243 shares, China International Capital Corporation Limited, investment arm for 93,327,702 shares, Fullgoal Fund Management Co., Ltd. for 15,202,702 shares, Underdeveloped Region Industry Development Fund, a fund managed by, SDIC Chuangyi Industry Fund Management Co., Ltd. for 12,921,293 shares, along with individual investors, Wei Wei for 34,290,540 shares and Guo Weisong for 50,675,675 shares. The company incurred issuance fees of CNY 38,300,037.72.