Espressif Information Technology (Shanghai) Co., Ltd

2024 Annual Assessment Report on the Performance of Accounting Firms

Espressif Information Technology (Shanghai) Co., Ltd. (hereinafter referred to as the "Company") has engaged Baker Tilly International Accounting Firm (Special General Partnership) (hereinafter referred to as "Baker Tilly International") as the auditor of the Company's domestic financial reports and internal control for 2024. In accordance with the Administrative Measures for the Selection and Employment of Accounting Firms by State-owned Enterprises and Listed Companies issued by the Ministry of Finance, the State-owned Assets Supervision and Administration Commission of the State Council and the China Securities Regulatory Commission, the Company evaluated the performance of duties in the audit process of Baker Tilly International in 2024. After evaluation, the company believes that Baker Tilly International is compliant and effective in terms of qualifications, and can maintain independence, diligence and fairness in the performance of duties. The details are as follows:

1. The basic situation of the accounting firm for the annual audit in 2024

(1) Institutional information

1. Basic Information

Founded in December 1988 and headquartered in Beijing, Baker Tilly International Accounting Firm (Special General Partnership) (hereinafter referred to as "Baker Tilly International") is a large-scale comprehensive consulting institution focusing on audit and assurance, capital market services, management consulting, government affairs consulting, tax services, legal affairs and liquidation, information technology consulting, engineering consulting, and enterprise valuation.

The chief partner of Baker Tilly International is Qiu Jingzhi, whose registered address is No. 19, Chegongzhuang West Road, Haidian District, Beijing

Building 68, areas A-1 and A-5, organized as a special general partnership.

Baker Tilly International has obtained the practice certificate issued by the Beijing Municipal Bureau of Finance, and is one of the first accounting firms in China to obtain the qualification for securities and futures-related business, the qualification to engage in the audit business of super-large state-owned enterprises, the qualification for financial auditing, the qualification for accounting forensic business, and the qualification for the security and confidentiality of military secret-related business consulting services, and is registered with the PCAOB in the United States. Baker Tilly International has been engaged in securities services for more than 20 years.

As of December 31, 2023, Baker Tilly has 89 partners and 1,165 certified public accountants

There are 414 certified public accountants who have signed audit reports on securities service business.

Baker Tilly International's total audited revenue in 2023 was RMB3.197 billion, and its audit revenue was RMB2.641 billion

yuan, securities business income of 1.287 billion yuan. In 2023, 263 listed companies will audit customers, and major industries (certificates) will be audited

The regulatory commission of the industry, the same below) including manufacturing, information transmission, software and information technology services, electricity, heat, gas and water production and supply, wholesale and retail, transportation, warehousing and postal services, etc., the total audit fee of 319 million yuan, the company's listed companies in the same industry audit customers 22.

2. Investor protection ability

In accordance with relevant laws and regulations, Baker Tilly has accumulated a full amount of occupational risk funds in previous years, and the cumulative compensation limit of the occupational risk funds and occupational insurance purchased shall not be less than RMB 20,000. The provision of occupational risk funds and the purchase of occupational insurance are in accordance with relevant regulations. In the past three years (2022, 2023, 2024, and the beginning of 2025 to the date of this signing, the same below), Baker Tilly has not incurred civil liability in relevant civil litigation due to its professional conduct.

3. Integrity record

In the past three years, Baker Tilly International has received 0 criminal penalties, 1 administrative punishment, and supervision and management measures for its professional behavior

9 times, 6 self-regulatory measures and 3 disciplinary actions. In the past three years, practitioners have been punished for their professional conduct

1 administrative punishment, 10 supervision and management measures, 2 self-regulatory measures and 3 disciplinary actions, involving people

There are 37 members, and there is no criminal punishment for professional conduct.

(2) Project information

1. Basic Information

The basic information of the project partner, the signatory certified public accountant, and the project quality control reviewer is as follows:

Project Partner & Signatory CPA 1: Ma Gang, became a CPA in 2015 and became a CPA in 2005

He began to engage in the audit of listed companies, began to practice in the firm in 2015, and began to provide audit services for the company in 2021, signing 3 audit reports of listed companies in the past three years and reviewing 4 audit reports of listed companies in the past three years.

Signing CPA 2: Wuyi Zhang, became a CPA in 2019 and started working in 2015

Municipal company audit, began to practice in this firm in 2019, signed 1 audit report of listed companies in the past three years, and reviewed 0 audit reports of listed companies in the past three years.

Project quality control reviewer: Wen Dongmei, became a certified public accountant in 2007, began to engage in the audit of listed companies in 2008, began to practice in the firm in 2008, began to provide audit services for the company in 2022, signed 11 audit reports of listed companies in the past three years, and reviewed 3 audit reports of listed companies in the past three years.

2. Integrity record

The project partner, the signing certified public accountant, and the project quality control reviewer have not been in practice for the past three years

In order to receive criminal penalties, administrative penalties, supervision and management measures from the China Securities Regulatory Commission, its dispatched agencies, industry authorities, etc., and self-regulatory measures and disciplinary sanctions from self-regulatory organizations such as stock exchanges and industry associations.

3. Independence

There are no circumstances that may affect the independence of Baker Tilly International, project partners, signatory CPAs, project quality control reviewers, etc.

2. The performance of duties by accounting firms

In accordance with the Chinese Certified Public Accountants Auditing Standards and other practice standards, combined with the company's 2024 annual report

Work arrangement, Baker Tilly International's 2024 Annual Financial Report and Financial Report for the year ended December 31, 2024

The effectiveness of internal control was audited, and at the same time, the deposit and actual use of raised funds, the occupation of non-operating funds and other related capital transactions were verified, and a special assurance report on the deposit and actual use of raised funds was issued, and a special description of the occupation of non-operating funds and other related capital transactions was issued.

In the process of carrying out the audit work, Baker Tilly and the relevant auditors communicated with the company's management and governance on independence, the composition of the audit working group, the audit plan, risk judgment, risk and fraud testing and evaluation methods, the annual audit focus, and the preliminary opinion, and reached an agreement.

After auditing, Baker Tilly believes that the company's financial statements are in accordance with the Accounting Standards for Business Enterprises in all material respects

Prepared to fairly reflect the consolidated financial position of the Company and the parent company as of December 31, 2024 and

consolidated and parent operating results and cash flows for the year 2024; The Company has maintained effective internal control over financial reporting in all material respects in accordance with the Basic Standards for Enterprise Internal Control and related regulations. Baker Tilly issued a standard unqualified audit report.

3. The company's evaluation of the performance of the accounting firm

After evaluation, Baker Tilly International Accounting Firm's qualifications, practice records, quality management level, work plan, human and other resource allocation, and risk-bearing ability level can meet the requirements of the company's 2024 audit work. The Audit Committee of the Board of Directors believes that Baker Tilly International has adhered to a fair and objective attitude in conducting independent audits in the process of auditing the company's financial reports and internal controls, demonstrated good professional ethics and professional quality, conducted audit behaviors in a standardized and orderly manner, completed the audit work on schedule, and issued audit reports that were objective, complete, clear and timely.

Espressif Information Technology (Shanghai) Co., Ltd

board of directors

March 21, 2025