The Board of Haitong Unitrust International Financial Leasing Co., Ltd. announced that on August 24, 2023 (after trading hours), the Company (as the Lessor) entered into the Current Finance Lease Contract with the Yangzhou Deheng Digital Co., Ltd. (Lessee), pursuant to which the Lessor agreed to purchase the Leased Items of the Current Transaction at a consideration of RMB 208,702,749.60, and the Lessor agreed to lease the Leased Items of the Current Transaction to the Lessee with a lease period of 96 months. The Leased Items of the Current Transaction are IDC engine room equipment, located in the PRC. The purchase price of the Leased Items of the Current Transaction is in aggregate RMB 208,702,749.60.

The Lessee does not separately calculate the profits before and after tax of the Leased Items of the Current Transaction. Pursuant to the Current Finance Lease Contract, the Lessor agreed to lease the Leased Items of the Current Transaction to the Lessee. The lease payments, including value-added taxes, are calculated and paid in RMB, and comprised of lease principal and lease interest.

The lease principal is RMB 187,832,474.64 in total. The total amount of the lease interest for the lease period is approximately RMB 78,323,325.36. The lease principal and the lease interest shall be settled by the Lessee every three months from the first instalment of the lease payment until the last instalment of the lease payment.

The terms of the Current Finance Lease Contract, including the purchase consideration for the Leased Items of the Current Transaction, lease principals, lease interest and other expenses under the Current Finance Lease Contract were determined upon arm's length negotiation between the Lessee and the Lessor with reference to the purchase price of the Leased Items of the Current Transaction and the prevailing market prices of the same category of finance lease products in the PRC. Ownership of the Leased Items of the Current Transaction shall belong to the Lessor. Once the Leased Items of the Current Transaction are delivered pursuant to the Current Finance Lease Contract, their risks shall be borne by the Lessee as all the costs arising from the damage or loss of the Leased Items of the Current Transaction shall be solely undertaken by the Lessee regardless of whether the Lessee is in possession of the Leased Items of the Current Transaction.

The Lessee shall not revoke the Current Finance Lease Contract for reason of such damage or loss and its obligation of lease payment and all other obligations under the Current Financial Lease Contract shall remain unchanged. As of the last day of the lease period, if the Lessee has no breach of contract or the breach is fully remedied, the Lessee may exercise the right to purchase, renew or return the Leased Items of the Current Transaction in accordance with the Current Finance Lease Contract. If the Lessee chooses to purchase the Leased Items of the Current Transaction, the purchase price will be RMB 100.

The Lessor and the Lessee unanimously agree that if the Lessee unilaterally proposes to the Lessor for terminating the Current Finance Lease Contract, the Current Finance Lease Contract may only be terminated earlier on the premise that the Lessee pays off all outstanding amounts to the Lessor, including all overdue interests, due and outstanding lease payment and undue lease payment and consideration for buy-back/residual values at the end of the lease period under the Current Finance Lease Contract. The lease payment obligation of the Lessee or other agreements under the Current Finance Lease Contract shall not be deemed to be changed or modified in any form until the Lessee pays off all amounts abovementioned in a real estate mortgage guarantees Shanghai Deheng Data Technology Co., Ltd. and WANG Bin shall provide joint and several liability guarantees in respect of the debt owed by the Lessee under the Current Finance Lease Contract; Shanghai Blue Bodi Intelligent Engineering Co., Ltd. shall provide joint and several liability guarantees for part of the lease term in respect of the debt owed by the Lessee under the Current Finance Lease Contract; Shanghai Hengyan Information Technology Development Co., Ltd., through its equity interest in the Lessee, shall provide equity pledge guarantees in respect of the debt owed by the Lessee under the Current Finance Lease Contract; The Lessee shall provide accounts receivable pledge guarantees in respect of the debt owed by the Lessee under the Current Finance Lease Contract; The Lessee shall provide real estate mortgage guarantees in respect of the debt owed by the Lessee under the Current Finance Lease Contract.