On October 19, 2022, Shanghai GenTech Co., Ltd. closed the transaction. The company has issued 9,437,854 A shares at a price of CNY 19.39 per share for gross proceeds of CNY 182,999,989.06. The transaction included participation from Caitong Fund Management Co., Ltd. for 5,064,982 shares, Nuode Asset Management Co., Ltd. for 2,013,408 shares and Nufusi Xuebao No.

16 Private Securities Investment Fund, a fund managed by Shenzhen Niufusi Investment Co., Ltd. for 1,179,732 shares and Wang Li for 1,179,732 shares. The company has received after deducting the issuance expenses of CNY 4,274,880.92, the net amount of funds raised this time of CNY 178,725,108.14. All the securities issued in the transaction has a lockup period of six months.