In December 2018, Inner Mongolia Yangfan New Materials Co., Ltd. closed the transaction. The company received CNY 90,000,000 as registered capital increase and CNY 130,000,000 as addition to capital reserve for aggregate gross proceeds of CNY 220,000,000 in the transaction. The company received CNY 7,000,000 as capital increase in the second and final tranche. Pursuant to the transaction, the registered capital of the company increased from CNY 30,000,000 to CNY 120,000,000.