On November 4, 2022, Yuancheng Environment Co., Ltd. closed the transaction. The company issued 40,591,512 common shares at an issue price of CNY 7.01 per share for gross proceeds of CNY 284,546,499.12. The company received net proceeds of CNY 277,012,968.35 in the transaction.

The transaction has been approved by the China Securities Regulatory Commission. The transaction included participation from Zhejiang Qianlv Private Fund Management Co., Ltd. through Qianlv No. 13 Private Securities Investment Fund for CNY 24,999,994.33, Xiamen Borui Oriental Investment Management Co., Ltd. through Borui Oriental Value No.

29 Private Securities Investment Fund for CNY 13,999,993.46, Guodu Venture Capital Co., Ltd. through Guodu Benfu No. 5 Private Investment Fund for CNY 14,999,998, Nanhua Fund Management Co., Ltd. for CNY 9,999,996.33, CITIC Securities Investment Limited for CNY 11,999,998.4, Nuode Asset Management Co., Ltd. for CNY 30,999,993.53, returning investor China Everbright Securities (HK) Limited, Investment Arm for CNY 38,999,994.8 to hold 1.74% stake in the company post the transaction, individual investors including Miao Lijun for CNY 29,999,996, Zhang Min for CNY 63,546,540.27, Zhou Jin'ai for CNY 14,999,998, Li Jiong for CNY 19,999,999.67 and Li Tianhong for CNY 9,999,996.33.