Securities code: 688188 Securities abbreviation: Baichu Electronics Announcement No.: 2025-003

Shanghai Baichu Electronic Technology Co., Ltd

Announcement on the postponement of the investment project of the raised funds

The Board of Directors and all directors of the Company guarantee that the content of this announcement does not contain any false records or misleading

statements or material omissions, and bear legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law

Allow.

On January 16, 2025, Shanghai Bochu Electronic Technology Co., Ltd. (hereinafter referred to as the "Company" or

"Baichu Electronics") held the ninth meeting of the third board of directors and the ninth meeting of the third board of supervisors, deliberated and passed the "proposal on the postponement and re-demonstration of the investment project of raised funds", comprehensively considered the implementation progress of the company's raised capital investment project (hereinafter referred to as the "fund-raising project") and other factors, and agreed that the company will "expand the production of intelligent cutting head project", "intelligent welding robot and control system industrialization project", "ultra-high precision drive and control integrated research and development project" Re-demonstrate and adjust the project to December 31, 2025. This postponement does not change the content, investment purpose, total investment amount and implementation entity of the fundraising project. The sponsor, CITIC Securities Co., Ltd. (hereinafter referred to as the "Sponsor"), has issued a verification opinion on this matter with express consent. The above-mentioned proposals do not need to be submitted to the general meeting of shareholders for deliberation, and the specific circumstances of the postponement and re-demonstration of the fundraising project are hereby announced as follows:

First, the basic situation of the funds raised

(1) Funds raised through initial public offerings in 2019

On July 16, 2019, the China Securities Regulatory Commission issued the "Concerning the Consent of Shanghai Baichudian

The approval of the registration of the initial public offering of shares of Zi Co., Ltd. (Zheng Jian Xu Xu [2019] No. 1293) approved the registration, and the company issued 25.00 million RMB ordinary shares (A shares) to the public for the first time, per share

The par value is 1.00 yuan, the issue price per share is 68.58 yuan, and the total amount of funds raised is 1,714,500,000.00 yuan, deducted

After the issuance cost of 102,812,924.52 yuan (excluding VAT), the net amount of funds raised was 1,611,687,075.48 yuan, of which the part of the net raised funds exceeding the planned amount of raised funds (hereinafter referred to as the "over-raised funds") totaled 776,320,075.48 yuan, and the above-mentioned raised funds have been raised by Lixin Certified Public Accountants (Special General Partnership)

The "Capital Verification Report" (Xinhuishi Bao Zi [2019] No. ZA15319) was verified and issued.

(2) Raise funds by issuing shares to specific targets in 2021

According to the China Securities Regulatory Commission's "Concerning the Consent of Shanghai Baichu

Approval of the registration of the issuance of shares by Electronic Technology Co., Ltd. to specific targets (Zheng Jian Xu Xu [2022] 372).

The Company issued 3,665,441 A shares to specific targets at an issue price of RMB266.68

per share, the total proceeds of the offering were RMB977,499,805.88, deducting related issuance expenses of RMB19,104,622.65, and the net proceeds were RMB958,395,183.23. The above-mentioned funds raised

On April 8, 2022, all of them were in place, and Lixin Certified Public Accountants (Special General Partnership) raised the above funds

The funds in place were verified, and the "Capital Verification Report" (Xinhuishi Bao Zi [2022] No. ZA10858) was issued.

The above-mentioned raised funds are deposited in a special account for raising funds approved by the board of directors, and the company and the implementation entity of the fund-raising project have signed a tripartite/quadripartite supervision agreement with the sponsor institution and the opening bank to implement special account management for the raised funds.

2. The investment project of the raised funds

(1) Funds raised through initial public offerings in 2019

According to the "Prospectus for the Initial Public Offering of Shares of Shanghai Baichu Electronic Technology Co., Ltd. and Listing on the Science and Technology Innovation Board", the "Proposal on Using Part of the Over-raised Funds to Permanently Replenish Liquidity" deliberated and approved by the 15th meeting of the first board of directors and the 8th meeting of the first board of supervisors of the company, and the "Proposal on Using Part of the Over-raised Funds to Invest in the Construction of New Projects and Permanently Replenish Liquidity" deliberated and approved by the 25th meeting of the first board of directors and the 17th meeting of the first board of supervisors of the company, The details of the investment project of the raised funds are as follows:

Unit: 10,000 yuan

Serial No. Project Name Total Project Investment Proposed Use of Raised Funds

The amount invested

1 Bus laser cutting system intelligent upgrade project 31,402.00 31,402.00

2 Ultrafast laser precision micro-nano fabrication system construction project 20,314.00 20,314.00

3 Equipment Health Cloud and MES System Data Platform Construction Project 19,689.70 19,689.70

4 R&D center construction project 8,262.00 8,262.00

5 Marketing Network Enhancement Project 3,869.00 3,869.00

Subtotal of investment projects 83,536.70 83,536.70

6 Permanent replenishment of liquidity N/A 34,689.54

7 Intelligent cutting head expansion project 61,839.67 21,839.67

8 Industrialization project of intelligent welding robot and control system 40,682.86 10,682.86

9 R&D project of ultra-high precision drive and control integration 40,419.94 10,419.94

Subtotal of over-raised funds N/A 77,632.01

Note: "Bus Laser Cutting System Intelligent Upgrade Project", "Ultrafast Laser Precision Micro-Nano Processing System Construction Project", "Equipment Health Cloud and MES System Data Platform Construction Project", "R&D Center Construction Project", "Marketing Network Strengthening Project" have been completed, and 120 million yuan of the surplus raised funds will be transferred to its own fund account for permanent replenishment of working capital, and other surplus raised funds (including interest income) will be concentrated in it

A special account for raising funds is managed on the special account. For details, please refer to the company's disclosure on the website of the Shanghai Stock Exchange on December 6, 2023

(www.sse.com.cn) Announcement of Shanghai Baichu Electronic Technology Co., Ltd. on the Completion of the Investment Project of the Funds Raised by the Initial Public Offering of Shares and the Permanent Replenishment of Liquidity with Part of the Surplus Raised Funds (Announcement No.: 2023-038).

(2) Raise funds by issuing shares to specific targets in 2021

According to the "Shanghai Baichu Electronic Technology Co., Ltd. issued A shares to specific targets in 2021".

Securities Prospectus" and the "Proposal on Adjusting the Investment Amount of Funds Raised in Part of the Raised Funds Investment Project" deliberated and approved by the 13th meeting of the second board of directors and the 13th meeting of the second board of supervisors of the company, the specific situation of the investment project of the raised funds is as follows:

Unit: 10,000 yuan

Serial No. Project Name Total Project Investment Proposed Use of Raised Funds

The amount invested

1 Intelligent cutting head expansion project 61,839.67 37,012.19

2 Industrialization Project of Intelligent Welding Robot and Control System 40,682.86 29,413.66

3 R&D project of ultra-high precision drive and control integration 40,419.94 29,413.66

Total 142,942.47 95,839.51

3. The actual investment of the fundraising project to be postponed

The fundraising projects to be postponed this time are "Intelligent Cutting Head Expansion Project" and "Intelligent Welding Robot and Control".

Industrialization Project of Manufacturing System", "R&D Project of Integrated Ultra-high Precision Drive and Control", as of January 10, 2025

The actual investment of the funds raised by the above-mentioned fund-raising projects is as follows:

(1) Part of the over-raised funds raised from the initial public offering of shares in 2019

Unit: 10,000 yuan

It is proposed to use the raised funds to invest in the raised funds to raise the funds to invest

Preface Project Investment

Project Name Gold Investment Amount Fund Amount Progress (2)/

No. Total

（1） （2） （1）

1 Expansion of intelligent cutting head 61,839.67 21,839.67 1,840.63 8.43%

It is proposed to use the raised funds to invest in the raised funds to raise the funds to invest

Preface Project Investment

Project Name Gold Investment Amount Fund Amount Progress (2)/

No. Total

（1） （2） （1）

eye

Intelligent welding robot and

2 Control system industrialization 40,682.86 10,682.86 811.62 7.60%

eye

3 Ultra-high precision drive and control 40,419.94 10,419.94 922.41 8.85%

R&D projects

Total 142,942.47 42,942.47 3,574.66 /

(2) Raise funds by issuing shares to specific targets in 2021

Unit: 10,000 yuan

It is planned to use the raised funds to invest in the raised funds cumulatively

Preface Total project investment

Project Name: Fund Investment Amount, Fund Raising Amount, Capital Progress

No

（1） （2） （2）/（1）

1 Intelligent cutting head expansion project 61,839.67 37,012.19 13,828.25 37.36%

2 Intelligent welding robot and control 40,682.86 29,413.66 4,489.76 15.26%

System industrialization project

3 Ultra-high precision drive and control integrated research 40,419.94 29,413.66 16,776.10 57.04%

development project

Total 142,942.47 95,839.51 35,094.11 /

Fourth, the specific situation and reasons for the postponement of the fundraising project

(1) The postponement of the fundraising project

Combined with the actual construction situation and investment progress of the company's raised funds investment project, the company intends to adjust the time for the project to reach the predetermined usable state under the condition that the investment purpose and investment scale of the raised funds do not change, as follows:

Project Name Project Reached Pre-Completion Project Achievement Forecast After Change

Usable Status Date Usable Status Date

Smart Cutting Head Expansion Project December 31, 2024 December 31, 2025

Intelligent Welding Robot and Control System Industrialization Project December 31, 2024 December 31, 2025

Ultra-high precision drive and control integrated R&D project December 31, 2024 December 31, 2025

(2) The reasons for the postponement of the fundraising project

1. Intelligent cutting head expansion project

In recent years, with the rapid growth of the global and Chinese laser processing equipment market size, higher power lasers

The sales scale of processing equipment is gradually expanding, and at the same time, the fierce competition in the laser processing equipment industry, the continuous improvement of the requirements for the power segment, the rapid iteration of product technology, and the continuous evolution of user needs and market competition. The company needed to achieve a breakthrough in the technology and quality of intelligent cutting heads in the higher power range. Therefore, the company should launch more product series according to the changes in market demand and cover more downstream application fields. The company has carried out further planning and upgrading of this project: (1) further consolidate the technological leadership of existing products, and continue to update and iterate from four application scenarios such as plane, pipe, flat slope and section steel to meet the demand for higher power at home and abroad. (2) While realizing the processing demand of higher power, it is necessary to further realize the combination of soft and hard of the laser cutting control system and the intelligent laser cutting head, which needs to be upgraded in the synchronization and precision of information collection, transmission and feedback, so as to realize and expand more application scenarios at home and abroad.

2. Industrialization project of intelligent welding robot and control system

With the transformation and upgrading of the manufacturing industry and the demand for industrial upgrading, intelligent welding robots have become the key equipment to improve production efficiency, reduce costs and ensure product quality. In this fundraising project, the intelligent welding robot aims to provide intelligent welding solutions for steel structure enterprises to reduce production costs, and there are no mature products on the market that are applied to the steel structure industry. After solving the general processing scenarios in the industry, the company found that the market needs of the subdivided small industries in the steel structure processing industry are diverse in the process of promoting the fundraising project. At the same time, in the process of promoting the business of the steel structure industry, the needs of some other industries have also been found. Therefore, the company plans to continue to improve the technology of the current products and expand the application scenarios: (1) continue to strengthen the technical level of the intelligent welding robot control system in the steel structure industry, improve the processing effect of general application scenarios, and expand other flexible production scenarios. (2) Continue to develop industries within the boundaries of capabilities based on existing technologies.

3. R&D project of ultra-high precision drive and control integration

The research and development of this project includes four parts: small high-power density drive, high-precision servo drive, multi-axis motion control system and precision manufacturing process research and development. After research and development, the company's products include precision laser cutting system, bus galvanometer linkage system, network galvanometer controller, BCD linear driver and other product series, which have been involved in the photovoltaic industry, lithium battery industry, 3C glass and display panel processing, etc., the company plans to improve the application effect of the current product series in existing use scenarios, stabilize and enhance market recognition. At the same time, it will carry out market development and expansion of application scenarios in other industries, improve the application scope of products and continuously improve the technical level, so as to achieve the purpose of increasing market share and domestic substitution.

5. The re-evaluation of fundraising and investment projects

According to the Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation

The company re-demonstrated the necessity and feasibility of the "Intelligent Cutting Head Expansion Project", "Intelligent Welding Robot and Control System Industrialization Project" and "Ultra-high Precision Drive and Control Integrated R&D Project", and decided to continue to implement the project. The details are as follows:

(1) Intelligent cutting head expansion project

1. The necessity of project construction

(1) Further improve the product series and expand the application scenarios

According to the current needs of end users, the current and potential processing scenarios require laser processing equipment in the higher power range, which requires rapid iteration of the company's product technology. Therefore, the company needs to further improve the richness of the company's products, cover the needs of higher power laser cutting equipment and a variety of application scenarios for intelligent laser cutting heads, provide customers with more diversified products, and meet customers' one-stop procurement needs.

(2) Further software and hardware collaboration to adapt to new needs

As one of the company's main business products, the laser cutting control system is the relationship between the brain and the limbs with the intelligent laser cutting head, and the combination of soft and hard is required to achieve higher collaboration in the synchronization and precision of information collection, transmission and feedback to be able to meet the needs of higher power processing scenarios.

The work of high-power laser cutting is generally in the environment of high temperature, high humidity and dust pollution, and the operation of the external environment and the small changes inside the cutting head will have a great impact on the performance of the equipment and the cutting effect, so under the demand of higher power processing products, the working condition information will be transmitted back to the control system in time, and the control system will adjust it in real time, so as to effectively cope with the more complex processing environment, so as to ensure the maximum level of laser processing.

(3) Requirements to ensure large-scale production

At present, the company's main business laser cutting control system with the change of downstream demand, research and development work continues to advance, system products continue to update and iterate, at the same time, the company has a certain production capacity of cutting heads, forming a certain sales scale.

However, with the demand for higher power cutting head products, the company needs to be more controllable about the quality of each component, strictly control and improve the quality of products, and achieve technological breakthroughs.

2. Feasibility of project construction

(1) The company has the technology and talent base for the smooth implementation of this project

(1) The company has the relevant technical reserves and production experience for the smooth implementation of this project

The company is a high-tech enterprise, and has always attached great importance to technology research and development since its establishment. After years of development, it has accumulated a relatively rich technical accumulation in the field of laser cutting intelligent control, and has outstanding scientific and technological innovation capabilities

Strong core competitiveness. As of June 30, 2024, the company has obtained a total of 171 patents of various types, including:

97 invention patents; A total of 98 software copyrights have been obtained.

At present, the company's intelligent cutting head products have a relatively mature product series, forming a certain proportion of revenue, and has completed a certain amount of technology accumulation.

(2) The company has a talent reserve for the smooth implementation of this project

The company's core entrepreneurial team and management are from Shanghai Jiao Tong University automation and other engineering majors, with solid technical reserves, and excellent management has laid a good foundation for the long-term development of Baichu Electronics.

(2) The expansion project of intelligent cutting head has a high degree of synergy with the company's laser cutting control system business

The cutting head produced by the company has the advantage of localized operation, and the cutting head produced by the company can cooperate with the locally produced laser and the local operating environment, which is convenient to operate, easy to debug, and the timely response and guarantee of follow-up services are stronger, and the application scenarios are more flexible and extensive. In the technical background of the synergy and complementarity of the cutting head and the control system, it can better feedback and meet the needs of the original enterprises that have used the company's control software and the new customers of the future control system.

(2) Industrialization project of intelligent welding robot and control system

1. The necessity of project construction

(1) The steel structure industry and related other industries have a large and diverse demand for welding

In September 2020, the Ministry of Housing and Urban-Rural Development and other departments jointly issued the "On Accelerating the Development of New Building Industrialization".

Dry opinions", put forward to vigorously develop steel structure buildings. Encourage hospitals, schools and other public buildings to give priority to the use of steel structure, and actively promote the construction of steel structure housing and farmhouse. In November 2020, the central government released the "14th Five-Year Plan" and the long-term goals for 2035, which clarified the general direction of the construction industry in the future, such as prefabrication, new industrialization, informatization, and green, highlighting the development of green buildings, which will be conducive to further increasing the proportion of steel structure applications. The development of the steel structure industry has a huge demand for welding. In the processing scenarios of the steel structure industry, most of them are welded with non-standard small batches of workpieces, so there are various demand characteristics of application scenarios. In the current product promotion stage, the company needs to continuously collect and meet more new needs to continuously update and iterate products.

At present, the company's intelligent welding robot control system products have formed a certain income, in order to solve the processing needs of the steel structure industry and cooperate with downstream robot manufacturers and other equipment manufacturers, but also found some new and similar needs of other industries similar to the steel structure industry, so the company needs to further improve the product to solve the needs of the actual processing scene.

(2) The intelligent welding solution continues to be updated and iterated to gradually solve the shortage of welders

At present, the company's intelligent welding control system is steadily promoted. From the perspective of the industry, the company is currently focusing on:

The steel structure of the building will gradually expand to the iron tower and bridge in the future. The degree of automation of the domestic steel structure steel structure welding process is low, and it basically relies on a large number of welding workers. At present, there is a general shortage of welders in China, and the working conditions of welding workers often have more waste gas, dust, waste residue, strong light, high noise, high electromagnetic radiation, high temperature and other harsh environmental conditions. Therefore, in recent years, the demand for automated and intelligent welding solutions in the steel structure industry has become increasingly urgent.

2. Feasibility of project construction

(1) Cutting and welding belong to the upstream and downstream processes, which is conducive to the company's expansion of downstream customers

As the market size and industry influence of the company's laser cutting control system continue to increase, the demand of downstream customers for the company's intelligent welding solutions also continues to grow.

Due to the relationship between cutting and welding in the upstream and downstream processes in the production and manufacturing of steel structure products, the company will combine the existing five core technical directions such as CAD, CAM, NC, sensor control, and hardware design to carry out multi-dimensional expansion, which is expected to improve the automation level of steel structure welding.

(2) The company has intelligent welding robot control technology and talent reserves

The company's core entrepreneurial team and management are from Shanghai Jiao Tong University automation and other engineering majors, with solid technical reserves, and excellent management has laid a good foundation for the long-term development of Baichu Electronics.

At present, the company has provided overall solutions based on full-module development capabilities, through offline programming, digital twins, parametric modeling, etc., with graphics capabilities, reading and analysis of models, automatic extraction of welds and collision detection, etc.; Visual technology capabilities, based on self-developed vision technology software and hardware, automatically control the collection and processing of visual data; Robot kinematics ability, focusing on the underlying technology of robot control algorithm, to ensure that the process is not affected by robot movement; Equipment interconnection capability, fully self-developed technology, software and hardware level system to grasp the operation status of equipment; Process experience, senior process staff are deeply involved in function development to ensure welding quality. As a result, the goal of improving efficiency, reducing processing time, and making it easy to use can be achieved.

(3) R&D projects of ultra-high precision drive and control

1. The necessity of project construction

(1) The gap in high-precision motion control technology restricts the localization of high-end equipment

Motion control systems are widely used in high-end manufacturing equipment and are the basic technology for realizing mechanical automation. The precision of the motion control system determines the precision of the manufacturing of the production equipment. The lack of high-precision motion control technology is also one of the fundamental reasons why ultra-high precision machining cannot be achieved in China. Micro-level and even nano-level high-precision motion control is widely used in precision laser processing equipment required for manufacturing in 3C and semiconductor fields, and these high-end manufacturing equipment belong to the national strategic emerging industries.

Therefore, the company plans to fill the technical gap of domestic high-precision motion control system through research and development, and realize the independent controllability of core technologies in this field, which will reduce a technical bottleneck for precision laser processing equipment required for semiconductor manufacturing.

To achieve high-precision motion control, it is necessary to master the core technology of control algorithms, controllers, and drivers. As an advanced enterprise of laser control system in China, the company has been focusing on the research and development of PC-based controllers and control systems, and the related technologies have reached the international advanced level. The company has accumulated technical advantages in laser-related control system technology, and some technical performance can reach and exceed foreign competitors. The implementation of this project will realize the integration of existing technology and new technology, form a systematic multi-axis motion control technology, under the premise of the same function, the cost of the product has a certain price advantage compared with foreign manufacturers. At the same time, the company will also establish a technological advantage in addition to the price advantage by improving its technical capabilities. By improving the analysis accuracy of the sine and cosine encoder, developing high-speed drive control communication mode and multi-axis drive control integrated control, etc., the motion control accuracy of the product is gradually improved, and finally the high-precision multi-axis motion control at the sub-micron and nano levels is realized, the technical barriers of ultra-high-precision motion control systems are broken through, and the import substitution of high-precision motion control systems in domestic high-end equipment is promoted.

(2) Extend the application field of the company's products

The company's products have been used in the photovoltaic industry, lithium battery industry, 3C glass and display panel processing, etc. The company will further improve the technical level, strengthen the industry development and the expansion of application scenarios, and improve the application effect of products, so as to achieve the purpose of increasing market share and domestic substitution.

The application of high-precision drive and control integrated motion controller is becoming more and more extensive, mainly used in semiconductor manufacturing, new energy material processing and manufacturing, display panel manufacturing, biological reagent research and development, precision thin and brittle material processing and other industries.

(3) The integrated technology of drive and control lays the foundation for the company's future industrial layout

The content of the planned research and development of this project will promote the development of the company's industrial layout in the two directions of high precision and miniaturization and high power density, and the related technologies developed in this project can also achieve backward compatibility, thereby improving the accuracy standards of the company's mid-to-high-end products. The company will continue to develop and promote the development direction of high-precision control system and miniaturized high-power density control system.

(4) Ensure the smooth industrialization of high-precision and high-power density products

Whether it's high precision, high reliability, high power density, and harsh environment applications, designs need to be able to be manufactured at the manufacturing end. And the general manufacturing process can only meet the general industrial requirements. This project will independently develop a complete set of process methods and management systems for the manufacturing, inspection and maintenance of high-precision equipment to confirm

Ensure the industrialization of landing.

This project will optimize and upgrade the product trial production process and improve the precision of the trial production process in combination with the needs of different R&D products. At the same time, the company will also introduce or independently develop advanced manufacturing equipment and high-precision testing equipment to meet the requirements of high-precision testing and high-standard trial production of products.

2. Feasibility of project construction

(1) The existing technology and R&D achievements provide technical reserves for this project

At present, the company has mastered CAD, CAM, NC, hardware design, sensor, and high-precision drive technology, which can be used as the technical basis for the research and development of this project. The first five technologies are the basic technologies of the company's existing products, which have been realized and sold in a number of products and product lines, which belong to the existing technologies and have certain competitive advantages in the industry.

Through the implementation of this fundraising project, the company will further develop high-precision drive technology and combine it with existing control technology to achieve high-precision drive and control integration technology.

(2) The company has a high-quality R&D team and a complete R&D management system

As a research and development project, the company adheres to the core competitiveness of research and development capabilities, the founders of the company are professionals in the field of motion control, engaged in the development of industrial automation products for more than ten years, has accumulated rich experience in technology research and development and product development, and has deep insights into the development of industry technology. The founder of the company participates in R&D management as a core technical personnel, and as a R&D leader, he has established a stable, professional and high-quality R&D team.

In addition to the improvement of R&D team and R&D equipment, the company also continuously absorbs advanced management concepts at home and abroad through practice accumulation, and gradually forms and improves the R&D management system suitable for the actual development of the company.

Continuous technological innovation is one of the company's core strategies, high-quality R&D team, perfect R&D management system, and the company's strategic high attention to ensure the company's continuous innovation of R&D and productization capabilities, laying a solid foundation for the smooth implementation of this project.

6. The impact of the postponement of the fundraising project on the company

The postponement of the fundraising project is a prudent decision made by the company based on the actual situation of the implementation of the project, and does not change the investment content, total investment amount and implementation subject of the fundraising project, and will not have a substantial impact on the implementation of the fundraising project. This adjustment does not have a disguised change in the investment direction of raised funds and damages the interests of shareholders, and will not have a significant adverse impact on the normal operation of the company, which is in line with the company's long-term development plan.

VII. Procedures for the Review of Performance

On January 16, 2025, the company held the ninth meeting of the third board of directors and the ninth meeting of the third board of supervisors

At the meeting, the "Proposal on the Postponement and Re-demonstration of the Investment Project of the Raised Funds" was deliberated and approved, and it was agreed that the company's investment project of the raised funds would be postponed and re-demonstrated.

8. Explanation of special opinions

(1) Opinions of the Board of Supervisors

After deliberation, the board of supervisors believes that the company's fund-raising projects "intelligent cutting head expansion project", "intelligent welding robot and control system industrialization project" and "ultra-high precision drive control integrated research and development project" are in line with the company's strategic development plan and the interests of shareholders, and still have the necessity and feasibility of investment. The postponement of the company's raised funds investment project is made by the company according to the actual internal and external conditions of the implementation process of the fund-raising project, and there is no disguised change in the investment direction of the raised funds, and there is no damage to the interests of the company and all shareholders, especially small and medium-sized shareholders. The decision-making and approval procedures comply with relevant laws and regulations such as the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Funds Raised by Listed Companies, the Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation, and the provisions of the Company's Management System for Raised Funds. The Board of Supervisors agreed to postpone the investment project of the raised funds and re-evaluate the matters.

(2) Opinions of the sponsor institution

After verification, the sponsor, CITIC Securities Co., Ltd., believes that:

The company's postponement and re-demonstration of the raised funds investment project is a decision made by the company based on the actual situation of the raised funds investment project, which has been deliberated and approved by the company's board of directors and board of supervisors, and has fulfilled the necessary decision-making procedures, in line with the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies" and "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation" and other relevant regulations. To sum up, the sponsor has no objection to the postponement and re-demonstration of the company's raised funds investment project.

9. Attachment to the online announcement

CITIC Securities Co., Ltd.'s verification opinions on the postponement and re-demonstration of the investment project of the raised funds of Shanghai Bochu Electronic Technology Co., Ltd

The announcement is hereby made.

Shanghai Baichu Electronic Technology Co., Ltd

board of directors

January 17, 2025