On October 11, 2023, Luoyang Xinqianglian Slewing Bearing Co., Ltd. closed the transaction. The company issued 13,379,204 A shares at a price of CNY 26.16 per share for gross proceeds of CNY 349,999,976.64. The company incurred issue expenses pursuant to the transaction for CNY 13,665,852.19.

The company will add CNY 13,379,204 as registered capital and CNY 322,954,920.45 as capital reserve. The transaction included participation from new investors Nuode Asset Management Co., Ltd., Caitong Fund Management Co., Ltd., China Asset Management Co. Ltd., GTJA Innovation Investment Co., Ltd., China Pacific Life Insurance Co., Ltd.-Dividends-Personal Dividends, and Fan Weihong