Huatai United Securities Co., Ltd

In connection with the issuance of A shares by BIWIN Storage Technology Co., Ltd. to specific targets

and the listing and issuance process of the Science and Technology Innovation Board and the compliance audit report of the subscription object

Shanghai Stock Exchange:

Registered with the approval of the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") under the Zheng Jian Xu Xu [2025] No. 447 document, BIWIN Storage Technology Co., Ltd. (hereinafter referred to as "BIWIN Storage", "Issuer" or "the Company") issues A shares (hereinafter referred to as the "Offering" or "Offering to Specific Targets") to no more than 35 specific targets that meet the conditions stipulated by the China Securities Regulatory Commission and the Shanghai Stock Exchange (hereinafter referred to as the "Shanghai Stock Exchange"). The sponsor (lead underwriter) of this offering, Huatai United Securities Co., Ltd. (hereinafter referred to as "Huatai United Securities", "sponsor (lead underwriter)" or "lead underwriter"), in accordance with the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law"), the "Administrative Measures for the Registration of Securities Issuance of Listed Companies", the "Administrative Measures for the Issuance and Underwriting of Securities" and the "Implementation Rules for the Securities Issuance and Underwriting Business of Listed Companies on the Shanghai Stock Exchange" and other relevant provisions and the resolution of the general meeting of shareholders of the issuer on the issuance, and the issuer jointly organized the implementation of the issuance, and the issuance process and compliance of the issuance are reported as follows:

1. Overview of issuance

(1) Issue price

The pricing benchmark date for the offering is the first day of the offering period (March 26, 2025) and the reserve price for the offering is

RMB 60.19 per share, not less than 80% of the average stock trading price in the 20 trading days prior to the pricing benchmark date.

The issuer and the sponsor (lead underwriter) negotiated and determined the issue price to be 63.28 yuan per share according to the principles of price priority, amount priority and time priority according to the market-based bidding situation, which is not less than 80% of the average stock trading price in the 20 trading days before the pricing benchmark date.

(2) Issuance object

The final number of targets for this issuance was 24, which is in line with the relevant laws and regulations such as the Administrative Measures for the Registration of Securities Issuance of Listed Companies, the Implementation Rules for the Securities Issuance and Underwriting Business of Listed Companies on the Shanghai Stock Exchange, and the provisions of the resolutions of the general meeting of shareholders of the issuer on the relevant provisions of the issuance.

(3) The number of issuances

The final number of shares issued in this issuance is 30,025,284 shares, which meets the approval requirements of the 10th meeting of the third board of directors of the issuer, the 4th extraordinary general meeting of shareholders in 2023, the 18th meeting of the 3rd board of directors, the 2023 annual general meeting of shareholders, the 24th meeting of the third board of directors and the fourth extraordinary general meeting of shareholders in 2024, and in line with the approval of Shenzhen BIWIN Storage Technology Co., Ltd. to issue shares to specific objects for registration (Zheng Jian Xu Xu [2025] 447). No.). The estimated number of shares to be issued disclosed in the offering plan is not more than 31,566,705 shares (including the number of shares), and the number of shares to be issued this time exceeds 70% of the number of shares to be issued in the issuance plan.

(4) The amount of funds raised

According to the issue price of 63.28 yuan per share, the total amount of funds raised in this offering is 1,899,999,971.52 yuan, which does not exceed the upper limit of 190,000 yuan in the scale of raised funds.

After verification, the sponsor (lead underwriter) believes that the issuance price, issuance object, issuance quantity, and amount of funds raised in this offering are in accordance with the relevant laws and regulations such as the Administrative Measures for the Registration of Securities Issuance of Listed Companies, the Implementation Rules for the Securities Issuance and Underwriting Business of Listed Companies on the Shanghai Stock Exchange, and the relevant resolutions of the issuer's general meeting of shareholders on the issuance, and meet the requirements of the issuance plan that the sponsor (lead underwriter) has reported to the Shanghai Stock Exchange before the launch of the issuance.

2. Relevant procedures for the performance of this issuance

(1) The board of directors and the general meeting of shareholders deliberate and approve

On July 19, 2023, the issuer held the 10th meeting of the third board of directors and deliberated and approved

"Proposal on the Company's Compliance with the Conditions for Issuing A Shares to Specific Targets" and "On the Company's 2023 Annual Direction

Proposal on the Plan for the Issuance of A Shares by Specific Targets" and "On the Company's Issuance of A Shares to Specific Targets in 2023

Proposal on the stock plan", "Proposal on the demonstration and analysis report of the company's plan to issue A shares to specific targets in 2023", "Proposal on the feasibility analysis report on the use of funds raised by the company's issuance of A shares to specific objects in 2023", "Proposal on the report on the use of the company's previous raised funds", "Proposal on the company's 2023 issuance of A shares to specific objects to dilute the immediate return, filling measures and commitments of relevant subjects" Proposal on the description of the company's raised funds to be invested in the field of scientific and technological innovation", "Proposal on the establishment of a special account for raising funds through the issuance of A shares to specific objects and signing a regulatory agreement", "About

Propose to the general meeting of shareholders of the company to authorize the board of directors and its authorized persons to handle the specific matters related to the issuance of A shares to specific objects" and other proposals related to this issuance.

On August 4, 2023, the issuer held the fourth extraordinary general meeting of shareholders in 2023, which was deliberated and approved

"Proposal on the Company's Compliance with the Conditions for Issuing A Shares to Specific Targets" and "On the Company's 2023 Annual Direction

Proposal on the Plan for the Issuance of A Shares by Specific Targets" and "On the Company's Issuance of A Shares to Specific Targets in 2023

Proposal on the stock plan", "Proposal on the demonstration and analysis report of the company's plan to issue A shares to specific targets in 2023", "Proposal on the feasibility analysis report on the use of funds raised by the company's issuance of A shares to specific objects in 2023", "Proposal on the report on the use of the company's previous raised funds", "Proposal on the company's 2023 issuance of A shares to specific objects to dilute the immediate return, filling measures and commitments of relevant subjects" Proposal on the explanation of the company's raised funds to be invested in the field of scientific and technological innovation", "Proposal on the establishment of a special account for raising funds through the issuance of A shares to specific objects and signing a regulatory agreement", "Proposal on requesting the company's general meeting of shareholders to authorize the board of directors and its authorized persons to handle the specific matters of the issuance of A shares to specific objects" and other proposals related to this issuance.

On April 29, 2024, the issuer held the 18th meeting of the third board of directors and deliberated and approved

"Proposal on Adjusting the Company's Plan for Issuing A Shares to Specific Targets in 2023", "Proposal on the Company's Plan for Issuing A Shares to Specific Targets in 2023 (Revised Draft)", "Proposal on the Demonstration and Analysis Report on the Company's Plan for Issuing A Shares to Specific Targets in 2023 (Revised Draft)", "Proposal on the Feasibility Analysis Report on the Use of Funds Raised by the Company's Issuance of A Shares to Specific Targets in 2023 (Revised Draft)", "Proposal on the Feasibility Analysis Report on the Use of Funds Raised by the Company's Issuance of A Shares to Specific Targets in 2023" Proposal on the report on the use of the company's previous raised funds", "Proposal on the company's 2023 issuance of A shares to specific targets for diluted spot returns, filling measures and related subject commitments (revised draft)", "Proposal on the company's explanation of the company's raised funds to invest in the field of scientific and technological innovation (revised draft)", "Proposal on extending the validity period of the resolution of the shareholders' meeting on the issuance of A shares to specific objects in 2023 and the validity period of the authorization" and other proposals related to this issuance.

On 20 May 2024, the issuer held its 2023 Annual General Meeting of Shareholders (AGMs) to deliberate and approve the Off

Proposal to extend the validity period of the resolution of the general meeting of shareholders and the validity period of the authorization for the issuance of A shares to specific targets in 2023".

On November 12, 2024, the issuer held the 24th meeting of the third board of directors to deliberate

The "Proposal on Amending and Extending the Validity Period of the Resolution of the General Meeting of Shareholders for the Issuance of A Shares to Specific Targets in 2023 and the Validity Period of the Authorization" were passed.

On November 28, 2024, the issuer held the fourth extraordinary general meeting of shareholders in 2024, which was deliberated and approved

"Proposal on Amending and Extending the Validity Period of the Resolution of the General Meeting of Shareholders for the Issuance of A Shares to Specific Targets in 2023 and the Validity Period of the Authorization". After deliberation, the validity period of the resolutions related to this issuance was extended to the shareholders

12 months from the date of consideration and adoption by the General Conference, i.e. until 27 November 2025; The general meeting of shareholders authorized the directors

The authorization of the Board of Directors and the Board of Directors to handle the specific matters of the issuance is extended to the validity period of the shares

It is valid for 12 months from the date of deliberation and adoption by the East Asian General Assembly, that is, until November 27, 2025.

On March 12, 2025, the company held the 26th meeting of the third board of directors, which was deliberated and approved

"Proposal on the Authorization of the Company to Issue Shares to Specific Targets".

(2) The registration process of the issuance regulatory department

On February 11, 2025, the issuance was approved by the Listing Review Center of the Science and Technology Innovation Board of the Shanghai Stock Exchange

The application for issuance of shares to a specific target meets the issuance conditions, listing conditions and information disclosure requirements.

On March 10, 2025, the China Securities Regulatory Commission (CSRC) issued the "Approval of Shenzhen Baiweicun

The approval of Chu Science and Technology Co., Ltd. for the registration of issuing shares to specific targets (Zheng Jian Xu Xu [2025] No. 447) agrees to the registration application of the issuer for issuing shares to specific targets.

After verification, the sponsor (lead underwriter) believes that the issuance has been approved and authorized by the board of directors and the general meeting of shareholders of the issuer, and has been approved by the China Securities Regulatory Commission for registration, and the issuance has fulfilled the necessary internal and external approval procedures.

3. The specific situation of this issuance

(1) The issuance of the "Subscription Invitation".

On March 25, 2025, the company and the lead underwriter submitted the "Shenzhen BIWIN Storage Technology Co., Ltd." to the Shanghai Stock Exchange

The Company issued A shares to specific targets and listed on the Science and Technology Innovation Board Issuance and Underwriting Plan and the Letter of Commitment for Post-meeting Matters, and launched the issuance.

Under the witness of Shanghai AllBright Law Offices (hereinafter referred to as the "Witnessing Lawyer").

Pedestrians and sponsors (lead underwriters) will comply with relevant laws and regulations after the close of business on March 25, 2025

of 120 investors (excluding the double-counting part) issued the "Invitation to Shenzhen BIWIN Storage Technology Co., Ltd. to Issue A Shares to Specific Targets and Listed on the Science and Technology Innovation Board for Subscription" (hereinafter referred to as the "Subscription Invitation").

book") and related subscription attachments, and the list of subscription invitations to be sent includes the deadline of February 28, 2025

12 of the top 20 shareholders of the issuer (excluding the controlling shareholders, actual controllers, directors, supervisors, senior management of the issuer and the lead underwriter, and their related parties under their control or exerting significant influence),

There are 40 securities investment fund management companies, 29 securities companies, 26 insurance institutional investors, and the board of directors

After the announcement of the resolution, 18 investors have expressed their intention to subscribe.

From the issuance plan and the list of objects to be sent to the Shanghai Stock Exchange to the bookkeeping of this issuance, the issuer and the sponsor (lead underwriter) received a total of 20 new investors' subscription intentions, added them to the list of subscription invitations after careful verification, and sent supplementary subscription invitation documents to them. The list of the aforesaid new investors is as follows:

Serial No. Add the name of the investor

1 He Wei

2 Jiang Mihong

3 Shanghai Junhe Licheng Investment Management Center (Limited Partnership)

4 Qingdao Guoxin Science and Technology Industry Investment Fund Partnership (Limited Partnership)

5 Chengdu Lihua Investment Co., Ltd

6 Sichuan Zhenxing Jiajie Private Securities Investment Fund Management Co., Ltd

7 Hubei High-tech Investment Holding Investment Co., Ltd

8 Shenzhen Huabao Wanying Asset Management Co., Ltd

9 Lu Wei

10 Smart Internet Telecom Ark (Shenzhen) Venture Capital Fund Partnership (Limited Partnership)

11 Shenzhen Minghua Xinde Private Equity Fund Management Co., Ltd

12 UBS AG

13 Xu Yurong

14 Wu Xiufang

15 Hubei Jixin Times Industrial Investment Co., Ltd

16 Shanghai Shenchuang Industry City Private Equity Fund Partnership (Limited Partnership)

17 Shanghai Shenchuang Shenhui Private Equity Fund Partnership (Limited Partnership)

18 Chen Xuegeng

19 Qianhai CSSC (Shenzhen) Smart Ocean Private Equity Fund Partnership (Limited Partnership)

20 Morgan Stanley International Inc

After verification, the sponsor (lead underwriter) believes that the content of the "Invitation to Subscribe" and the scope of the sending object comply with the "Administrative Measures for the Issuance and Underwriting of Securities", the "Implementation Rules for the Securities Issuance and Underwriting Business of Listed Companies on the Shanghai Stock Exchange" and other relevant laws and regulations, as well as the provisions of the relevant resolutions of the issuer's general meeting of shareholders on the issuance.

At the same time, the "Subscription Invitation" truely, accurately and completely informed the bidding object in advance about the selection of the issue

The object of the line, the determination of the subscription price, the specific rules and timing of the allocated quantity, etc.

(2) Investors' subscription quotations

According to the "Invitation to Subscribe", the time for receiving the subscription documents for this issuance is March 2025

From 9:00 to 12:00 on the 28th, the issuance witness lawyer witnessed the whole process. Sponsor during the valid quote time

A total of 27 subscription related documents were received from the lead underwriters.

After the joint verification and confirmation of the sponsor (lead underwriter) and the lawyer witnessing the issuance, 27 subscription objects

In accordance with the provisions of the "Invitation to Subscribe", the "Shenzhen BIWIN Storage Technology Co., Ltd. to a specific object" was submitted

Subscription Quotation for Issuance of A-Shares and Listing on the STAR Market (hereinafter referred to as the "Subscription Quotation") and completion

The whole attachment and paid the subscription deposit on time and in full (except for the subscription objects that do not need to pay the deposit), all

is a valid quote.

The full subscription bookkeeping data within the validity period is as follows:

Serial No. Name of Subscription Object Subscription Price Cumulative Subscription of Each Tranche Whether it is paid or not is valid

(RMB/share) Amount (10,000 yuan) Margin quotation

1 UBS AG 64.17 8,400.00 N/A Yes

68.99 6,900.00

2 Caitong Fund Management Limited 67.19 11,300.00 Not applicable Yes

64.53 21,700.00

63.28 5,000.00

3 GF Securities Co., Ltd. 63.15 5,100.00 Yes Yes

61.95 6,800.00

4 Cathay Fund Management Limited 65.00 6,800.00 N/A Yes

62.00 8,000.00

64.58 7,100.00

5 Guotai Haitong Securities Co., Ltd. 63.18 7,400.00 Yes Yes

62.18 9,300.00

6 He Wei 65.25 5,000.00 Yes Yes

7 Hubei High-tech Investment Holding Investment Co., Ltd. 66.01 5,000.00 Yes Yes

manage

Hunan Light Salt Venture Capital Management Co., Ltd

8 Division-Light Salt Zhixuan No. 40 Private Securities Investment 64.56 6,000.00 Yes Yes

funds

9 Valin Jinshan (Tianjin) Industrial Investment Base 64.28 5,000.00 Yes Yes

Gold Partnership (Limited Partnership)

Huatai Asset Management Co., Ltd. (on behalf of "Hua

10 Tai Preferred No. 3 Equity Pension Product - 64.58 5,000.00 Yes Yes

Industrial and Commercial Bank of China Limited")

Serial No. Name of Subscription Object Subscription Price Cumulative Subscription of Each Tranche Whether it is paid or not is valid

(RMB/share) Amount (10,000 yuan) Margin quotation

Huatai Asset Management Co., Ltd. (on behalf of "Hua

11 Thai Asset Management-Industrial and Commercial Bank of China-Huatai Asset Fixed Increase 66.78 5,000.00 Yes Yes

New Opportunity Asset Management Products")

Huatai Asset Management Co., Ltd. (on behalf of

12 Hui Life Insurance Co., Ltd. - Huatai 66.78 5,000.00 Yes Yes

Multi-Asset Portfolio")

64.29 6,300.00

13 China Asset Management Co., Ltd. 62.89 11,900.00 Not applicable Yes

61.66 12,200.00

14 Jiang Mihong 68.48 5,000.00 Yes Yes

15 Liu Lingyun 63.08 5,000.00 Yes Yes

65.00 5,000.00

16 Lu Wei 63.50 6,000.00 Yes Yes

60.50 7,000.00

67.19 9,600.00

17 NORD Fund Management Ltd. 63.94 21,600.00 N/A Yes

61.89 27,900.00

Qianhai CSSC (Shenzhen) Smart Ocean Private 63.94 5,000.00

18 Equity Fund Partnership (Limited 60.93 8,000.00 Yes Yes

Gang)

Qingdao Guoxin Science and Technology Industry Investment Fund 67.08 6,000.00

19 companies (limited partnership) 66.08 7,000.00 Yes Yes

65.08 8,000.00

20 Shanghai Shenchuang Industry City Private Equity Fund Partnership 70.33 10,000.00 Yes Yes

Business (Limited Partnership)

21 Shanghai Shenchuang Shenhui Private Equity Fund Partnership 70.33 10,000.00 Yes Yes

Business (Limited Partnership)

22 Shenzhen Mutual Fund Management Co., Ltd. - 60.20 5,000.00 Yes Yes

Huayin Mutual Fund

23 Wu Xiufang 66.01 5,000.00 Yes Yes

Smart Internet Telecom Ark (Shenzhen) Innovation

24 Industry Investment Fund Partnership (Limited 68.00 20,000.00 Yes Yes

Gang)

25 Zhonghui Life Insurance Co., Ltd. - Biography 63.09 9,000.00 Yes Yes

system products

26 CITIC Securities Asset Management Limited 68.11 5,900.00 Yes Yes

63.50 5,000.00

27 Zhou Zhengxian 61.50 6,000.00 Yes Yes

60.50 7,000.00

Note: Guotai Junan Securities Co., Ltd. will complete the company name, registered capital and other matters on April 3, 2025

The name has been changed to Guotai Haitong Securities Co., Ltd. The same applies hereinafter.

(3) The issuance price, the issuance object and the placement obtained

It is issued in accordance with the principle of determining the issuance object, the issue price and the number of allotted shares in the "Subscription Invitation".

The objects are given priority according to (1) the subscription price; (2) Priority of subscription amount; (3) Receipt of the "Subscription Quotation"

The principle of time priority is determined.

The issuance was finally allocated a total of 24 objects, the issue price is 63.28 yuan / share, the issuance of shares

The number of votes was 30,025,284 shares, and the total amount of funds raised was 1,899,999,971.52 yuan. The offering is finalized

The number of shares to be issued, the number of shares allotted and the amount allotted are as follows:

Serial No. Name of Subscriber Number of Allotted Shares (Shares) Allotment Amount (RMB)

1 UBS AG 1,327,433 83,999,960.24

2 Caitong Fund Management Co., Ltd. 3,429,203 216,999,965.84

3 GF Securities Co., Ltd. 347,667 22,000,367.76

4 Guotai Fund Management Co., Ltd. 1,074,589 67,999,991.92

5 Guotai Haitong Securities Co., Ltd. 1,121,997 70,999,970.16

6 He Wei 790,139 49,999,995.92

7 Hubei High-tech Investment Holding Investment Co., Ltd. 790,139 49,999,995.92

8 Hunan Light Salt Venture Capital Management Co., Ltd. - Light Salt Zhi 948,166 59,999,944.48

Select Private Securities Investment Fund No. 40

Valin Jinshan (Tianjin) Industrial Investment Fund Partnership

9 (Limited Partnership) 790,139 49,999,995.92

Huatai Asset Management Co., Ltd. (on behalf of "Huatai Preferred Three

No. 10 Equity Pension Product - Industrial and Commercial Bank of China 790,139 49,999,995.92

Ltd.")

Huatai Asset Management Co., Ltd. (on behalf of "Huatai Asset Management-Gong

11 Commercial Bank - Huatai Asset Management 790,139 49,999,995.92

product")

12 Huatai Asset Management Co., Ltd. (on behalf of "Zhonghui Life Insurance 790,139 49,999,995.92

Insurance Co., Ltd. - Huatai Multi-Asset Portfolio")

13 China Asset Management Co., Ltd. 995,575 62,999,986.00

14 Jiang Mihong 790,139 49,999,995.92

15 Lu Wei 948,166 59,999,944.48

16 NORD Fund Management Co., Ltd. 3,413,400 215,999,952.00

Qianhai CSSC (Shenzhen) Smart Ocean Private Equity Fund

17 Partnership (Limited Partnership) 790,139 49,999,995.92

Qingdao Guoxin Science and Technology Industry Investment Fund Partnership (Yes

18 partnerships) 1,264,222 79,999,968.16

Shanghai Shenchuang Industrial City Private Equity Fund Partnership (Limited Partnership

19 units) 1,580,278 99,999,991.84

Serial No. Name of Subscriber Number of Allotted Shares (Shares) Allotment Amount (RMB)

Shanghai Shenchuang Shenhui Private Equity Fund Partnership (Limited Partnership

20 units) 1,580,278 99,999,991.84

21 Wu Xiufang 790,139 49,999,995.92

Smart Internet Telecom Ark (Shenzhen) Venture Capital Fund

22 Partnership (Limited Partnership) 3,160,556 199,999,983.68

23 CITIC Securities Asset Management Co., Ltd. 932,364 58,999,993.92

24 Zhou Zhengxian 790,139 49,999,995.92

Total 30,025,284 1,899,999,971.52

The above-mentioned issuance object is in accordance with the provisions of the general meeting of shareholders of the issuer on the relevant resolutions of the issuance.

After verification, the sponsor (lead underwriter) believes that in the process of pricing and placing of this offering, the issue price

The determination of the qualification, the selection of the issuance object, and the distribution of the number of shares all follow the procedures determined in the "Invitation to Subscribe".

Orders and rules. In the process of pricing and placing, the principle of maximizing the interests of the company and all shareholders was adhered to

There are any unreasonable rules to artificially manipulate the issuance results, lower the issue price or regulate the loss of the number of shares issued

Circumstances that harm the interests of investors.

(4) Arrangements for the restricted sales period

The lock-up period of the shares issued in this issue shall be implemented in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange. In addition to the relevant law

Unless otherwise provided by laws and regulations, the shares subscribed by the issuer shall be within 6 months from the date of the end of the issuance

Non-transferable.

After the end of the restriction period, the transfer of the shares subscribed by the issuer will be in accordance with the Company Law and the Securities Law

Relevant laws, regulations and relevant regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange shall be implemented.

(5) Verification of the suitability of investors, verification of related relationships and verification of private placement filings for this offering

examine

1. Investor suitability verification

According to the "Measures for the Administration of the Suitability of Securities and Futures Investors" and the "Management of the Suitability of Securities Business Institutional Investors".

Implementation Guidelines (Trial)", the investors who were finally allotted in this offering have been in accordance with the relevant laws and regulations and the "Invitation to Subscribe

The relevant materials are submitted for the investor suitability management requirements in the book, and the sponsor (lead underwriter) is responsible for them

Matching of investor classification and risk tolerance level.

Serial Number Investor Name Investor Classification Product Risk Level and Risk

Whether the tolerance level matches

1 UBS AG Professional Investor A Yes

2 Caitong Fund Management Co., Ltd. Professional Investor A Yes

3 GF Securities Co., Ltd. Professional Investor A Yes

Serial Number Investor Name Investor Classification Product Risk Level and Risk

Whether the tolerance level matches

4 Cathay Fund Management Co., Ltd. Professional Investor A Yes

5 Guotai Haitong Securities Co., Ltd. Professional Investor A Yes

6 He Wei Ordinary Investor C5 is

7 Hubei High-tech Investment Holding Investment Co., Ltd. Ordinary Investor C4 is

8 Hunan Light Salt Venture Capital Management Co., Ltd. - Light Salt Smart Selection 40 Professional Investor A Yes

No. Private Securities Investment Fund

Valin Jinshan (Tianjin) Industrial Investment Fund Partnership (Yes) Professional Investor A is

9 partnership only)

Huatai Asset Management Co., Ltd. (on behalf of "Huatai Preferred No. 3 Shares".

10 Ticket Pension Product - Industrial and Commercial Bank of China Co., Ltd. Professional Investor A is

Division")

11 Huatai Asset Management Co., Ltd. (on behalf of "Huatai Asset Management-ICBC Professional Investor A. Yes

Bank-Huatai Asset Management Product for New Opportunities in Private Placement")

12 Huatai Asset Management Co., Ltd. (on behalf of "Zhonghui Life Insurance Co., Ltd. Professional Investor A. Yes

Co., Ltd. - Huatai Multi-Asset Portfolio")

13 China Asset Management Co., Ltd. Professional Investor A Yes

14 Jiang Mihong Ordinary Investor C4 Yes

15 Lu Wei Ordinary Investor C4 Yes

16 NORD Fund Management Ltd. Professional Investor A Yes

Qianhai CSSC (Shenzhen) Smart Ocean Private Equity Fund Partnership Professional Investor A Yes

17 Enterprise (Limited Partnership)

Qingdao Guoxin Science and Technology Industry Investment Fund Partnership (Limited Professional Investor A is

18 units)

19 Shanghai Shenchuang Industry City Private Equity Fund Partnership (Limited Partnership) Professional Investor A Yes

20 Shanghai Shenchuang Shenhui Private Equity Fund Partnership (Limited Partnership) Professional Investor A Yes

21 Wu Xiufang Ordinary Investor C5 Yes

Smart Internet Telecom Ark (Shenzhen) Venture Capital Fund Partner Professional Investor A Yes

22 Business (Limited Partnership)

23 CITIC Securities Asset Management Co., Ltd. Professional Investor A Yes

24 Zhou Zhengxian Ordinary Investor C4 is

After verification, the investor category (risk tolerance level) of the final allotted investors is the same as that of BIWIN Storage

The risk level of the issuance is matched.

2. Verification of affiliation

The issuers participating in the bidding of this issuance have made a commitment when submitting the "Subscription Quotation": this unit

/I and my ultimate subscriber do not include the controlling shareholders, actual controllers, directors,

Supervisors, senior managers and their affiliates who control or exert significant influence also do not have the above-mentioned institutions and persons

Directly subscribed or indirectly participated in the subscription of the issuance through structured forms; The unit/myself and its ultimate subscriber have not accepted the commitment of the listed company and its controlling shareholders, actual controllers and major shareholders to guarantee the minimum income or disguised guaranteed returns, and have not directly or through the interested parties to accept the financial assistance or other compensation provided by the issuer; And guarantee to cooperate with the lead underwriter to verify the identity of the unit/person.

The sponsor (lead underwriter) and the lawyer witnessing the offering verified the relevant issuers and their ultimate funders of the proposed placement. After verification, it is believed that the issuance object does not include the controlling shareholders, actual controllers, directors, supervisors, senior managers of the issuer and the lead underwriter and their related parties controlled or exerting significant influence, and there is no situation in which the above-mentioned institutions and personnel participate in the issuance bidding through direct or indirect means. The issuer and its controlling shareholders, actual controllers and major shareholders have not made a commitment to guarantee the minimum return or the guaranteed return in disguised form to the issuer, nor have they harmed the interests of the company directly or through the provision of financial assistance or other compensation to the issuer by interested parties.

3. Filing of private equity funds

According to the results of the bidding subscription, the sponsor (lead underwriter) and the issuance witness lawyer will determine whether the allotted issuer of this offering belongs to the Securities Investment Fund Law of the People's Republic of China, the Interim Measures for the Supervision and Administration of Private Investment Funds, the Measures for the Registration and Filing of Private Investment Funds, the Administrative Measures for the Private Asset Management Business of Securities and Futures Operating Institutions, the Administrative Measures for the Filing of Private Asset Management Plans of Securities and Futures Operating Institutions, and other laws and regulations. The filing of private investment funds and private asset management plans as stipulated in the normative documents and self-regulatory rules has been verified, and the relevant verification results are as follows:

GF Securities Co., Ltd. and Guotai Haitong Securities Co., Ltd. are securities companies, Hubei High-tech Investment Control Investment Co., Ltd. is a corporate legal person, and He Wei, Jiang Mihong, Lu Wei, Wu Xiufang, and Zhou Zhengxian are natural person investors, who participate in this subscription with their own funds or legal self-raised funds, and do not belong to the private investment funds regulated by the Securities Investment Fund Law of the People's Republic of China, the Interim Measures for the Supervision and Administration of Private Investment Funds and the Measures for the Registration and Filing of Private Investment Funds. It is also not a private asset management plan regulated by the Administrative Measures for the Private Asset Management Business of Securities and Futures Operating Institutions and the Measures for the Filing of Private Asset Management Plans of Securities and Futures Operating Institutions, and is not required to perform the relevant registration and filing procedures for private investment funds and private asset management plans.

Qingyan Zhixuan No. 40 Private Securities Investment Fund and its managers are Hunan Qingyan Venture Capital Management Co., Ltd., Valin Jinshan (Tianjin) Industrial Investment Fund Partnership (Limited Partnership) and its managers, Hunan Diesel Hongtong Private Equity Fund Management Co., Ltd., Qianhai CSSC (Shenzhen) Smart Ocean Private Equity Fund Partnership (Limited Partnership) and its managers Qianhai CSSC (Shenzhen) Private Equity Fund Management Co., Ltd. and Qingdao Guo

Xin Technology Industry Investment Fund Partnership (Limited Partnership) and its managers Qingdao Guoxin Innovation Equity Investment Management Co., Ltd., Shanghai Shenchuang Industry City Private Equity Fund Partnership (Limited Partnership) and its managers Shanghai Junhe Licheng Investment Management Center (Limited Partnership), Shanghai Shenchuang Shenhui Private Equity Fund Partnership (Limited Partnership) and its manager Shanghai Junhe Licheng Investment Management Center (Limited Partnership), Smart Internet Telecom Ark (Shenzhen) Venture Capital Fund Partnership (Limited Partnership) and its manager, Ark Internet (Shenzhen) Private Equity Fund Management Partnership (Limited Partnership), have completed the registration of fund managers and the filing of fund products in accordance with the provisions of the Securities Investment Fund Law of the People's Republic of China, the Interim Measures for the Supervision and Administration of Private Investment Funds, and the Measures for the Registration and Filing of Private Investment Funds, and have provided registration and filing certificates.

UBSAG is a Qualified Foreign Institutional Investor (QFII) and does not belong to a private investment fund or a private fund manager as stipulated in the Securities Investment Fund Law of the People's Republic of China, the Interim Measures for the Supervision and Administration of Private Investment Funds, and the Measures for the Registration and Filing of Private Investment Funds, nor does it belong to the private asset management plans regulated by the Administrative Measures for the Private Asset Management Business of Securities and Futures Operating Institutions and the Measures for the Filing of Private Asset Management Plans of Securities and Futures Operating Institutions. There is no need to go through the relevant registration and filing procedures for private investment funds and private asset management plans.

Guotai Fund Management Co., Ltd. is a securities investment fund management company, and its public funds under its management participate in the subscription of this issuance, and there is no need to perform the filing procedures of private investment funds.

China Asset Management Co., Ltd. is a securities investment fund management company, and its public funds, national social security funds, and private asset management plans under its management participated in the issuance and subscription. Public funds and national social security funds are not required to perform the filing procedures for private investment funds; The private asset management plans to which it has been allocated have completed the filing of fund products in accordance with the provisions of the Securities Investment Fund Law of the People's Republic of China, the Interim Measures for the Supervision and Administration of Private Investment Funds, the Measures for the Registration and Filing of Private Investment Funds, and the Measures for the Filing of Private Asset Management Plans of Securities and Futures Operating Institutions, and have provided supporting documents for registration and filing.

NORD Fund Management Co., Ltd. and Caitong Fund Management Co., Ltd. are securities investment fund management companies, and both participate in the subscription of private asset management plans managed by them, and their allocated private asset management plans have completed the filing of fund products in accordance with the Securities Investment Fund Law of the People's Republic of China, the Administrative Measures for the Private Asset Management Business of Securities and Futures Operating Institutions, the Administrative Measures for the Filing of Private Asset Management Plans of Securities and Futures Operating Institutions, and other relevant laws and regulations, and have provided registration and filing certificates.

Huatai Asset Management Co., Ltd. is an insurance institutional investor, and its management of "Huatai Preferred No. 3 Stock".

Pension products - Industrial and Commercial Bank of China Co., Ltd., "Huatai Asset Management - Industrial and Commercial Bank of China - Huatai Asset Management Products with New Opportunities for Private Assets", and "Zhonghui Life Insurance Co., Ltd. - Huatai Multi-Asset Portfolio" participate in the subscription, the above products do not belong to the "Securities Investment Fund Law of the People's Republic of China", "Interim Measures for the Supervision and Administration of Private Investment Funds", "Measures for the Registration and Filing of Private Investment Funds" laws and regulations of private investment funds, and do not need to register private fund managers and private fund products for the record.

CITIC Securities Asset Management Co., Ltd. is a securities company, and its private asset management plan under its management participated in the subscription of this offering, and its allocated private asset management plan has completed the filing of fund products in accordance with the Securities Investment Fund Law of the People's Republic of China, the Administrative Measures for the Private Asset Management Business of Securities and Futures Operating Institutions, the Administrative Measures for the Filing of Private Asset Management Plans of Securities and Futures Operating Institutions, and other laws and regulations, and has provided registration and filing certificates.

In summary, the subscription objects of this offering comply with the relevant laws and regulations such as the Administrative Measures for the Registration of Securities Issuance of Listed Companies, the Implementation Rules for the Securities Issuance and Underwriting Business of Listed Companies on the Shanghai Stock Exchange, and the provisions of the relevant resolutions of the general meeting of shareholders of the issuer on the issuance.

(6) Payment and capital verification

The issuer and sponsor (lead underwriter) issued on 28 March 2025 to investors who have been placed there

The "Notice of Payment for the Issuance of A Shares by Shenzhen BIWIN Storage Technology Co., Ltd. to Specific Targets and Listing on the Science and Technology Innovation Board" (hereinafter referred to as the "Payment Notice"), the final scale of funds raised in this issuance is

RMB1,899,999,971.52, with 30,025,284 shares outstanding. As of April 2, 2025, investors

The total amount actually paid was $1,899,999,971.52.

On April 2, 2025, the sponsor (lead underwriter) will raise funds after deducting the relevant fees as required

The balance of funds is transferred to the issuer's account.

On April 3, 2025, Tianjian Certified Public Accountants (Special General Partnership) issued the "Verification Report"

(Tianjian Test [2025] No. 3-15). After verification, as of 15:30 on April 2, 2025, cf

The investors who subscribed for the shares have deposited the subscription funds into the account opened by Huatai United Securities in Zhenhua Sub-branch of Industrial and Commercial Bank of China Co., Ltd. Shenzhen Branch, and the total amount of subscription funds has been deposited in the amount of RMB 1,899,999,971.52.

On April 3, 2025, Tianjian Certified Public Accountants (Special General Partnership) issued the "Capital Verification Report"

(Tianjian Test [2025] No. 3-16). After verification, as of 9 o'clock on April 3, 2025, the issuer has confirmed

The issuer issued 30,025,284 RMB ordinary shares (A shares) with a par value of RMB1.00 per share at an issue price of RMB63.28 per share, raising a total of RMB1,899,999,971.52 in monetary funds, after deducting expenses related to the issuance of RMB29,314,551.81 (excluding VAT).

Net proceeds amounted to RMB1,870,685,419.71, of which RMB1,870,685,419.71 was included in the paid-in share capital

RMB30,025,284.00, included in the capital reserve (share capital premium) of RMB1,840,660,135.71, the registered share capital after issuance is RMB461,265,626.00, and the cumulative paid-in capital is RMB461,265,626.00.

After verification, the sponsor (lead underwriter) believes that the bidding, pricing, placing, payment and capital verification process of this offering complies with the provisions of the "Subscription Invitation" and "Payment Notice", as well as the "Administrative Measures for the Registration of Securities Issuance of Listed Companies" and the "Implementation Rules for the Securities Issuance and Underwriting Business of Listed Companies on the Shanghai Stock Exchange" and other relevant laws and regulations.

(7) An explanation of the source of funds of the subscription object

According to the requirements of the Guidelines for the Application of Regulatory Rules - Issuance No. 6, the sponsor (lead underwriter) must verify the source of funds of the subscription object.

After verification, the subscribers of this issuance all promised: "did not accept the guaranteed income or disguised guaranteed return commitments made by the issuer and its controlling shareholders, actual controllers and major shareholders, and did not accept the financial assistance or other compensation provided by the aforementioned entities directly or through stakeholders".

To sum up, the information on the above-mentioned sources of subscription funds is true, accurate and complete, and the arrangement of the above-mentioned sources of subscription funds can effectively safeguard the legitimate rights and interests of the Company and its minority shareholders, and comply with the Guidelines for the Application of Regulatory Rules - Issuance No. 6 and the relevant regulations of the Shanghai Stock Exchange.

4. Information disclosure in the process of this issuance

On February 11, 2025, the company received the "About Shenzhen BIWIN Storage Technology" issued by the Shanghai Stock Exchange

Exchange Review Opinions on the Issuance of Shares by Technology Co., Ltd. to Specific Objects": The application of Shenzhen BIWIN Storage Technology Co., Ltd. to issue shares to specific objects meets the issuance conditions, listing conditions and information disclosure requirements.

The issuance was approved by the Listing Review Center of the Science and Technology Innovation Board of the Shanghai Stock Exchange. The matter was made on February 12, 2025

Announcement.

On March 17, 2025, the issuer received the "Guan

In the approval of Shenzhen BIWIN Storage Technology Co., Ltd. to issue shares to specific objects for registration

Permission [2025] No. 447), agreeing to the issuer's application for registration of issuing shares to specific targets. The matter has been

Announced on March 18, 2025.

The sponsor (lead underwriter) will supervise the issuer to earnestly perform the relevant obligations and disclosure procedures of information disclosure in accordance with the Administrative Measures for the Registration of Securities Issuance of Listed Companies and other laws and regulations on information disclosure.

5. The concluding comments of the sponsor (lead underwriter) on the compliance review of the issuance process and the issuance object

After verification, the sponsor (lead underwriter) believes that:

The issuance process of Shenzhen BIWIN Storage Technology Co., Ltd. follows the principles of fairness and impartiality, and meets the current regulatory requirements of the securities market. The issuance price, subscription object, restriction period arrangement, the scale of funds raised, as well as the bidding, pricing and placement process are in line with the "Company Law", "Securities Law", "Administrative Measures for the Registration of Securities Issuance of Listed Companies", "Administrative Measures for Securities Issuance and Underwriting" and "Implementation Rules for the Securities Issuance and Underwriting Business of Listed Companies on the Shanghai Stock Exchange" and other relevant laws, regulations, normative documents and the requirements of the company's board of directors and shareholders' general meeting, and are in line with the interests of listed companies and all their shareholders.

The issuance object does not include the controlling shareholders, actual controllers, directors, supervisors, senior management of the issuer and the lead underwriter and their related parties controlled or exerting significant influence, and there is no situation in which the above-mentioned institutions and personnel participate in the issuance bidding through direct or indirect means. The issuer and its controlling shareholders, actual controllers and major shareholders have not made a commitment to guarantee the minimum return or the guaranteed return in disguised form to the issuer, nor have they harmed the interests of the company directly or through the provision of financial assistance or other compensation to the issuer by interested parties.

In the issuance process, the selection of subscription objects and the issuance results, the issuance of shares in line with the relevant provisions of the issuance of shares to specific objects, in line with the issuer's board of directors, shareholders' meeting resolutions and issuance plans of the relevant provisions of the issuance, fully embodies the principle of fairness and justice, in line with the interests of listed companies and all shareholders.

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(There is no text on this page, it is the signature page of the "Huatai United Securities Co., Ltd. on the issuance process of Shenzhen BIWIN Storage Technology Co., Ltd. to specific targets and listing on the Science and Technology Innovation Board, the issuance process and the compliance audit of the subscription objects")

Project Co-Organizers:

Liang Kai

Sponsor Representative:

Wang Tianqi and Liu Xiaodong

Legal representatives or their authorized representatives:

Jiang Yu

Huatai United Securities Co., Ltd

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