On July 6, 2022, Hwa Create Corporation closed the transaction. The company issued 48,458,149 shares at a price of CNY 6.81 per share for gross proceeds of CNY 329,999,994.69 in the transaction. The transaction included participation from Caitong Fund Management Co., Ltd. for CNY 121,499,790.99, UBS Group AG for CNY 29,999,997.66, Nuode Fund Management Co., Ltd. for CNY 49,999,993.83, Industrial Securities Global Fund Management Co., Ltd. for CNY 19,999,982.55, China Asset Management Co., Ltd. for CNY 88,500,233.49 and individual investor Wu Peixia for CNY 19,999,996.17.

The company received net proceeds of CNY 323,886,496.43 after deducting the issuance expenses.