On December 1, 2021, Kennede Electronics MFG. CO., LTD. closed the transaction. The company has issued 48,030,176 shares at a price of CNY 11.93 per share, for a total gross proceeds of CNY 572,999,999.68.

The transaction included participation from JPMorgan Chase Bank, National Association for 1,257,334 shares, Caitong Fund Management Co., Ltd. for 9,538,977 shares, Zhejiang Ningju Investment Management Co., Ltd.-Ningju Kaiyang No. 2 Private Equity Securities Investment Fund for 9,949,706 shares, Pacific Securities Co., Ltd. (Asset Management) for 1,257,334 shares, Nuode Fund Management Co., Ltd. for 3,185,247 shares, Zhongshan Hong Hua equity investment management center (limited partnership) for 2,220,452 shares, Shanghai Pengtuo Investment Management Co., Ltd. for 1,257,334 shares, Hunan Qingyan Venture Capital Management Co., Ltd.-Light Salt Zhixuan No. 10 Private Equity Securities Investment Fund for 2,800,134 shares, Shanghai Xingshan Wutong Investment Development Centre (Limited Partnership) for 752,072 shares, also included individual investors Guo Weisong for 3,352,891 shares, Yang Yuezhi for 1,257,334 shares, Shen Fang for 1,257,334 shares, Cui Heng for 1,676,445 shares, Sun Xue for 1,676,445 shares, Tian Jun'e for 1,257,334, Zhang Jianfei for 4,191,114 shares and Li Tianhong 1,089,689 shares.

The company has received net proceeds of CNY 558,699,593.84 in the transaction.