The board of Qingdao AInnovation Technology Group Co., Ltd. announced that, on 23 November 2023, the company and Bengbu Zhongchuangxin Industrial Service Co., Ltd. (Bengbu Zhongxin) (each as a Limited Partner), have entered into a Partnership Agreement in relation to establishment of the Joint Venture with Beijing Tongwei Private Equity Management Co., Ltd. (Tongwei Capital) and Shanghai Zhicheng Zhiqi Technology Co., Ltd. (Zhicheng Zhiqi) (each as a General Partner). The amount of capital contribution made by all Partners of the Joint Venture shall be RMB 303,000,000 in total, of which RMB 151,000,000, RMB 150,000,000, RMB 1,000,000 and RMB 1,000,000 shall be contributed by the company, Bengbu Zhongxin, Tongwei Capital and Zhicheng Zhiqi, respectively. Purpose and Business Scope of the Joint Venture: The purpose of the Joint Venture is to achieve its capital appreciation and create satisfactory investment returns for the Partners by engaging in investment activities in accordance with applicable laws and regulations and the Partnership Agreement.

The business scope of the Joint Venture includes venture capital (limited to investment in unlisted enterprises) and equity investment, investment management and asset management with private funds, subject to the final approval of and registration with the relevant government authorities of the PRC. The Joint Venture will focus on investing in industries such as new generation information technology, high-end equipment manufacturing and new materials that are planned and developed in Bengbu City, Anhui Province.