On January 13, 2023, Hangzhou Honghua Digital Technology Stock Company LTD. closed the transaction. The company issued 6,944,444 shares at an issue price of CNY 144 per share for total gross proceeds of CNY 999,999,936. The transaction included participation from UBS AG, Investment Arm for 1,527,777 shares for CNY 219,999,888; China International Capital Corporation Limited,Investment Arm for 691,666 shares for CNY 99,599,904; Caitong Fund Management Co., Ltd. for 625,000 shares for CNY 90,000,000; Nuode Asset Management Co., Ltd. for 491,319 shares for CNY 70,749,936; Guotai Junan Securities Co., Ltd., Investment Arm for 444,444 shares for CNY 63,999,936; Harvest Fund Management Co., Ltd. for 416,666 shares for CNY 59,999,904; Penghua Fund Management Co.

Ltd. for 250,000 shares for CNY 36,000,000; Jiajia Asset Management Co., Ltd., on behalf of Jiajia Life Insurance Co., Ltd. Universal Products for 243,055 shares for CNY 34,999,920; Dajia Asset Management Co., Ltd., on behalf of Dajia Asset Qiji Changqian Equity Asset Management Products for 243,055 shares for CNY 34,999,920; Hunan Light Salt Venture Capital Management Co., Ltd., on behalf of Qingyan Zhixuan No. 10 Private Equity Securities Investment Fund for 243,055 shares for CNY 34,999,920; Taikang Asset Management Co., Ltd., on behalf of Taikang Pension-General Account Special Investment Portfolio B for 243,055 shares for CNY 34,999,920; Taikang Asset Management Co., Ltd., on behalf of Taikang Pension-Participating Insurance Special Investment Portfolio B for 243,055 shares for CNY 34,999,920; Industrial Securities Global Fund Management Co., Ltd. for 243,055 shares for CNY 34,999,920; China Merchants Fund Management Co.,Ltd. for 67,020 shares for CNY 9,650,880; and Zhong Ou Fund Management Co., Ltd for 972,222 shares for CNY 139,999,968. The company incurred total issuance expenses of CNY 12,065,672.16 and raised net proceeds of CNY 987,934,263.84 in the transaction.

The company received Reply on Approving the Registration of the company to Issue Stocks to Specific Objects issued by the China Securities Regulatory Commission (China Securities Regulatory Commission [No. 202212930]).