China International Capital Corporation Limited

About UCD Technology Co., Ltd

2024 Semi-Annual Continuous Supervision Follow-up Report

In accordance with the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing, the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange, the Measures for the Continuous Supervision of Listed Companies on the Science and Technology Innovation Board (for Trial Implementation), and the Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 11 - Continuous Supervision, China International Capital Corporation Limited (hereinafter referred to as the "Sponsor") is the sponsor of the continuous supervision of UCD Technology Co., Ltd. (hereinafter referred to as "UCD" or "the Company"). Responsible for the continuous supervision of UCD and issue this continuous supervision and follow-up report.

1. Continue to supervise the work

Serial No. Work Content Continuous supervision

Establish and effectively implement the continuous supervision system, and for the sponsor institutions have established and effectively implemented the continuous

1. Formulate a corresponding work plan for the continuous supervision of the work The supervision system and the corresponding work plan have been formulated

scratch

According to the relevant regulations of the China Securities Regulatory Commission, before the commencement of continuous supervision, the sponsor has signed the "Sponsor Agreement" with UCD

2. Sign a continuous supervision agreement with the listed company or relevant parties, and clearly agree, which clarifies that both parties are in continuous supervision

The rights and obligations of both parties during the period of continuous supervision, and the rights and obligations of the Shanghai Securities Exchange shall be reported to Shanghai Securities

E-Exchange Filing Exchange Filing

Through daily communication, regular return visits, on-site visits, due diligence, etc

3. Carry out continuous supervision work and regular return visits to understand the business of UCD

situation, and carry out continuous supervision of UCD

During the period of continuous supervision, in accordance with the relevant regulations, the listed company will be punished for violations of laws and regulations in the first half of 2024 (hereinafter referred to as the "Continuation

4 matters of public statement, should be disclosed before the Shanghai Stock Exchange supervision period") UCD has not occurred in accordance with the relevant regulations

The violation of the law that is reported and reviewed by the Shanghai Stock Exchange and determined to be publicly stated by the sponsor in the designated media

Announcement of violations

During the period of continuous supervision, the listed company or relevant parties have violated the law

regulations, breach of commitments and other matters shall be found or should be discovered from the date of discovery during the period of continuous supervision

5. Report to the Shanghai Stock Exchange within five working days, and report the content of the law violation or breach of commitment

Including the listed company or relevant parties have violated laws and regulations, and violated commitments

and other matters, and the supervisory measures taken by the sponsor

Supervise the compliance of listed companies and their directors, supervisors and senior management with the law During this continuous supervision period, the sponsor supervises

laws, regulations, departmental rules and business rules issued by the Shanghai Stock Exchange and its directors, supervisors and senior management

6 and other normative documents, and earnestly perform the various personnel made to comply with laws, regulations, departmental rules and

Commitment to the business rules issued by the Shanghai Stock Exchange and

Other normative documents, earnestly implement what they do

Serial No. Work Content Continuous supervision

out of the commitments

Supervise listed companies to establish, improve and effectively implement corporate governance systems, and sponsor institutions urge UCD to comply with relevant regulations

7 Including but not limited to the rules of procedure of the general meeting of shareholders, the board of directors and the board of supervisors to improve and improve the corporate governance system, and strictly enforce it

and the code of conduct for directors, supervisors and senior management personnel

Supervise listed companies to establish, improve and effectively implement internal control systems, including the establishment of internal control systems by sponsors

However, it is not limited to the financial management system, accounting system and internal audit, implementation and effectiveness have been verified

8. The system, as well as the use of raised funds, related party transactions, external guarantees, and the internal control system of Kede comply with the requirements of relevant laws and regulations

The procedures for major business decisions such as foreign investment and management of holding subsidiaries have been effectively implemented, which can ensure that the company can be ensured

Rules, etc

Supervise listed companies to establish, improve and effectively implement the information disclosure system, and the sponsor supervises UCD to strictly implement the information

9 Review the information disclosure documents and other relevant documents, and have a good reason to disclose the system, review the information disclosure documents and it

It is believed that the documents submitted by the listed company to the Shanghai Stock Exchange do not exist other relevant documents

Misrepresentations, misleading statements, or material omissions

Information disclosure documents for listed companies and to the China Securities Regulatory Commission, Shanghai

Other documents submitted by the stock exchange are reviewed in advance and the existence of the same

The information disclosure documents of the problem should be promptly urged to be corrected by the listed company

or supplement, if the listed company does not correct or supplement, it shall promptly submit the information disclosure documents to the Shanghai sponsor institution

10 Stock Exchange Reports; The information disclosure documents of listed companies have not been reviewed, and they should be submitted to Shanghai in a timely manner if they do not exist

If it is reviewed before acting, it shall report the situation on the stock exchange after the listed company has fulfilled its information disclosure obligations

Within five trading days, complete the review of the relevant documents, and check the existence

The information disclosure documents of the problem should be corrected or supplemented by the listed company in a timely manner

If the listed company does not correct or supplement, it shall promptly report to Shanghai Securities

Exchange Reports

Pay attention to the listed company or its controlling shareholder, actual controller, director, and supervisor during the period of continuous supervision

Senior management personnel were subject to administrative penalties by the China Securities Regulatory Commission, Shanghai Securities shareholders, actual controllers, directors, supervisors,

11. The securities exchange has been disciplined or supervised by the Shanghai Stock Exchange Senior management has not been subject to the China Securities Regulatory Commission

Concerned about the situation of the letter, and urged it to improve the internal control system, take measures to punish, and the Shanghai Stock Exchange to take disciplinary action

or be issued by the Shanghai Stock Exchange

The case of the note

Continue to pay attention to the listed company and its controlling shareholders and actual controllers during the performance of this continuous supervision period

12. In the case of commitments, the listed company and its controlling shareholders and actual controllers do not have failed to fulfill their commitments

If the commitments are fulfilled, the situation shall be reported to the Shanghai Stock Exchange in a timely manner

Pay attention to the reports of listed companies in the public media and target the market in a timely manner

Rumors are verified. After verification, it is found that the listed company has the existence of a disclosure during the period of continuous supervision, and after verification by the sponsor institution,

13. If there is no material matter that has not been disclosed or the information disclosed is inconsistent with the facts, it shall be reported to the Shanghai Stock Exchange in a timely manner

Promptly urge listed companies to truthfully disclose or clarify; Listed companies report

If it is not disclosed or clarified, it shall be reported to the Shanghai Stock Exchange in a timely manner

If any of the following circumstances are discovered, the listed company shall be urged to make an explanation and restrictions

At the same time, report to the Shanghai Stock Exchange: (1) During the period of continuous supervision of the suspected violation, UCD did not occur

14 Countering the Listing Rules and other relevant business rules; (2) The information of the securities service agency

There may be false entries in the professional opinions issued by the organization and its signatories

misleading statements or material omissions and other violations of laws and regulations, or others

Serial No. Work Content Continuous supervision

impropriety; (3) Article 70 of the Sponsorship Measures appears in the Company

certain circumstances; (4) The company does not cooperate with continuous supervision; (5) above

Other circumstances that the Shanghai Stock Exchange or the sponsor deems necessary to report

15. Formulate an on-site inspection work plan for listed companies, and clarify the relevant work of on-site inspection and on-site inspection by the sponsor institution

Check the work requirements, ensure the quality of the on-site inspection work plan, and clarify the on-site inspection work requirements

If any of the following circumstances occurs in a listed company, the sponsor shall know about it

or should know within 15 days from the date or as required by the Shanghai Stock Exchange

During the time limit, special on-site inspections shall be carried out on listed companies: (1) Deposit

16. Suspicion of major financial fraud; (2) The controlling shareholder, the actual controller, and the period of continuous supervision, before the existence of UCD

Directors, supervisors or senior management personnel are suspected of embezzling the interests of a listed company

Benefit; (3) There may be a guarantee of material violations; (4) Funds or capital exchanges

There are material anomalies in cash flow; (5) Shanghai Stock Exchange or

Other matters that the sponsor deems necessary for on-site verification

2. Problems found by the sponsor and the sponsor representative and their rectification

1. Problems found

From January to June 2024, the company achieved operating income of 73,000.31 million yuan, a decrease of 9.305 million yuan from the same period of the previous year.

Decreased by 1.26%. The main impact came from the continued reduction of the scale of the edge cloud business, with its revenue decreasing by 21.86 million yuan year-on-year, with a change rate of -39%; At the same time, the revenue of managed cloud networks in the hybrid cloud business decreased by 11.39 million yuan year-on-year, with a change rate of -21%. On the other hand, with the gradual commissioning of the company's two self-built data centers in Ulanqab and Qingpu and the power-on of the cabinets, the revenue of cabinet hosting increased by 20.86 million yuan year-on-year, or 22%, to offset the reduction of edge cloud business and managed cloud network to a large extent.

2. Rectification

The above issues do not involve rectification matters. The sponsor reminds the company to do a good job in the disclosure of relevant information, timely and fully disclose the relevant risks, and effectively protect the interests of investors.

3. Major risk matters

1. The risk of performance decline or loss

From January to June 2024, the company achieved operating income of 73,000.31 million yuan, a decrease of 9.305 million yuan from the same period of the previous year.

decreased by 1.26%, and the net profit attributable to shareholders of listed companies was -108.4496 million yuan, an increase of 79.7165 million yuan over the same period of last year; The net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was -114.8235 million yuan, the same as that of the previous year

The period increased by 79.7516 million yuan.

The company has always adhered to the concept of creating value for customers, and is committed to continuously improving product performance (especially in computing power), with short-term investment in basic resources and R&D in exchange for long-term profitability. The company will maintain investment in product development and marketing, continue to provide customers with high-performance products, and strive to improve the product experience of users. In addition, with the development of fundraising projects, the investment in servers and infrastructure will continue to increase, and the gradual improvement of the benefits of fundraising projects may not be immediately apparent in the short term. At the same time, the company is committed to a high-quality development strategy and strictly controls the development of large-scale but loss-making projects. The combination of the above factors may have an impact on the company's future operating results, and there is a risk of sustained losses in the short term.

2. Core competitiveness risk

The company's core competitiveness is mainly reflected in the product research and development capabilities that follow customer needs, excellent customer service capabilities, and neutral market positioning. However, the company has a large gap with the giants in terms of scale, brand, number of products and other indicators. If the company is unable to adapt to changes in market demand, continue to develop differentiated and competitive products, or cannot guarantee the quality of customer service, the company's core competitiveness will be affected.

3. The risk of intensified market competition

The price of the company's main products as a whole shows a downward trend, and the price reduction is larger, the competition in the cloud computing market may still be fierce in the future, the main cloud computing manufacturers have the possibility of taking continuous competitive price reductions to achieve short-term market share increase, and in the face of fierce market competition, the company may continue to reduce the price of products in the next few years.

4. Systemic security risks

As cloud computing technology is still in the process of continuous development, optimization and maturity in China, and due to the characteristics of the Internet and information technology industry, it will objectively have problems such as network facility failures, software and hardware operation loopholes, and power supply interruptions, which may bring negative impacts such as business operation interruption and data loss to cloud computing users, thereby causing economic losses to customers. In addition, if an earthquake, flood, war or other unforeseen or man-made disaster occurs in the area where the company's servers are located, the reliability of the cloud computing services provided by the company will also be greatly affected.

5. Industry risk

The intensification of competition in the Internet industry, the gradual fading of the Internet demographic dividend, and the impact of policy regulation on Internet enterprises have had a certain impact on the stability of the company's downstream customers. If the Internet companies among the company's downstream major customers are in

In the current environment, it is impossible to continue to make profits or even operate normally, which may lead to a significant decline in the scale and proportion of the company's revenue from Internet customers, which will have a negative impact on the company's operations.

6. Macro environmental risks

The company's main revenue comes from domestic, so it has not been significantly and directly affected by international trade frictions. However, the company's upstream suppliers may be affected by the international trade environment. In the era of global artificial intelligence, the number of high-end GPUs has become an important guarantee to seize opportunities in the AI field. At present, United States regulators, citing national security reasons, have imposed a ban on the sale of high-end GPUs to Chinese companies. If international trade frictions and related bans escalate in the future, it cannot be ruled out that the company's supply chain will be affected, and then the sales of the company's products will be affected along the industrial chain.

4. Major violations

From January to June 2024, the company did not have any material violations.

5. Reasons and reasonableness of changes in major financial indicators

From January to June 2024, the company's main financial data and indicators are as follows:

Key Accounting Data January-June 2024 January-June 2023 Increase/Decrease Change (%)

Operating income (RMB) 730,003,118.36 739,308,126.37 -1.26

Net attributable to shareholders of the listed company -108,449,573.73 -188,166,087.17 Not applicable

Profit (RMB)

Deduction attributable to shareholders of listed companies

Unless net profit of recurring profit or loss -114,823,520.71 -194,575,075.46 is not applicable

(RMB)

Cash flow from operating activities 63,175,198.32 44,930,405.05 40.61

Net (RMB)

Key Accounting Data June 30, 2024 December 31, 2023 Change (%)

Net attributable to shareholders of listed companies 2,524,667,865.87 2,631,215,785.86 -4.05

Assets (RMB)

Total assets (RMB) 3,549,249,521.15 3,802,114,749.05 -6.65

Key Financial Indicators January-June 2024 January-June 2023 Increase/Decrease (%)

Basic earnings per share (RMB/share) -0.24 -0.42 Not applicable

Diluted earnings per share (RMB/share) -0.24 -0.42 Not applicable

-0.25 -0.43 after deducting non-recurring gains and lossesN/A

Basic earnings per share (RMB/share)

Weighted average return on equity (%) -4.21 -6.53 increased by 2.32 percentage points

The weighted -4.46 -6.75 after deducting non-recurring gains and losses increased by 2.29 percentage points

Average Return on Equity (%)

Ratio of R&D investment to operating income (%) 13.27 14.90 decreased by 1.63 percentage points

The reasons for the changes in the above key financial data and indicators are as follows:

1. The operating income was slightly lower than that of the previous period, and was basically flat overall, mainly due to the continued reduction of the scale of the edge cloud business, with a year-on-year decrease of 21.86 million yuan, with a change rate of -39%; At the same time, the revenue of managed cloud networks in the hybrid cloud business decreased by 11.39 million yuan year-on-year, with a change rate of -21%. On the other hand, with the gradual commissioning of the company's two self-built data centers in Ulanqab and Qingpu and the power-on of the cabinets, the revenue of cabinet hosting increased by RMB20.86 million year-on-year, or 22%, to offset the reduction of edge cloud business and managed cloud network to a large extent.

2. The comprehensive gross profit margin increased from 9.66% in the same period last year to 18.43%, and the increase in gross profit margin mainly came from the improvement of the gross profit margin of the cabinet hosting business, with the integration and optimization of the cabinet resources of the domestic third-party data center, and the migration to the self-built data center, the profitability of the cabinet hosting business was improved, and the gross profit margin increased from 8.95% to 34.92%. Secondly, with the optimization of the underlying resources of public cloud products, its gross profit increased by 28.5 million yuan year-on-year, and its gross profit margin increased from 11.01% to 18.53%, mainly from network products, storage products, and proprietary cloud products.

3. Selling expenses, administrative expenses and R&D expenses decreased by 14% compared with the same period last year, mainly due to the appropriate optimization and adjustment of the organization and personnel in line with the company's strategic development direction, and the impact of the termination of the employee equity incentive plan in the same period last year, and the new employee equity incentive plan was implemented in the second quarter. In summary, the total cost of personnel remuneration and employee equity incentive expenses for the current period decreased by RMB30.37 million compared with the same period last year.

4. Net cash flow from operating activities increased by 40.61% year-on-year, mainly due to the decrease in cash for the purchase of goods/payment for labor services, and the decrease in cash paid to and for employees, the total impact of the above two items exceeded the decrease in net cash receipts and expenditures related to other operating activities (mainly due to the decrease in government subsidies received).

5. The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses rebounded and the losses narrowed compared with the same period last year, mainly due to the recovery of net profits attributable to shareholders of listed companies and the narrowing of losses.

6. Basic earnings per share, diluted earnings per share, basic earnings per share after deducting non-recurring gains and losses, weighted average return on equity, and weighted average return on equity after deducting non-recurring gains and losses all rebounded compared with the same period last year.

In summary, the changes in the company's main financial data and financial indicators from January to June 2024 are reasonable.

Sixth, the changes in core competitiveness

1. Precise market positioning

The company focuses on the field of cloud computing and is positioned as a neutral and secure cloud computing service provider. As a digital infrastructure builder, the company does not seize the business field of customers on the cloud platform, does not compete with customers in business, and wins the trust of customers with technology and services. With the development of AI technology, the importance of a company's neutral positioning has become more prominent, and representative customers include the following categories:

(1) A leading AI large model company, which can serve as its first or second largest supplier to meet its large-scale training and inference needs;

(2) In industries that compete with industry giants, such as e-commerce, new retail, social networking, consumer electronics, etc., the company can make full use of the advantages of neutral positioning to ensure that customers' business and data can be highly protected in terms of privacy and security;

2. R&D strategy driven by user needs

The cloud computing industry is technology-intensive. The level of the company's research and development directly affects the company's competitiveness. On the basis of rapid business expansion, the company continues to increase R&D investment, maintaining that R&D investment accounts for more than 13% and R&D personnel account for about 40%. The product strategy is based on leading technology and in-depth understanding of customer needs, and the company insists that customer needs are the company's next products.

The company's Kongwise computing platform supports the access of homogeneous and heterogeneous card types, including not only international server accessories manufacturers, but also various domestic GPU manufacturers, and supports unified scheduling and management of training and inference clusters. It has strong high-speed network operation capabilities and supports a variety of networking methods, including but not limited to IB, RoCE, TCP/IP protocols, to meet the requirements of low latency and high throughput of data transmission. It can fully meet the requirements of large model customers and provide distributed training and breakpoint resumable training capabilities for large language models.

In response to the common hybrid cloud and multi-cloud management problems faced by users, the company released the "Hybrid Cloud Multi-cloud Management Platform UCMP" that integrates bare metal management, cloud resource management, and intelligent alarm management. UCMP is based on the company's abundance

Cloud computing operation and maintenance experience, develop a unified resource data model, and combine the resource management system, bare metal management system and the company's self-developed monitoring and alarm system to form a full-link unified architecture multi-cloud management system from the cloud to the cloud, from operation to service, for enterprises in multi-cloud IT deployment, open up the coordination and management capabilities under the hybrid architecture, and carry out hierarchical and departmental refined operation of IT resources through close integration with the enterprise organizational structure, so as to bring users "understand operation and maintenance, fine operation, and heavy service" The O&M lifecycle management experience.

For the privacy data computing of the financial industry, the company pays attention to the online business needs of banking, insurance, securities and other industries, and upgrades secure multi-party computing products, which can be widely used in scenarios such as joint risk control, joint statistics, precision marketing, and intelligent investment research in the financial industry. The secure multi-party computing platform built by the company is a set of enterprise-level high-performance distributed privacy computing platform with independent intellectual property rights. Through the combination of data privacy protection technology and data circulation management process, the platform has the characteristics of distribution, easy application, strong scalability, and friendly supervision, so as to form a comprehensive security guarantee mechanism such as data management authority, secure distributed encryption, secure encrypted database and cloud basic security protection.

3. Leading business strategy

In terms of the operation and management strategy of the cloud computing industry, the management set up a "CBA" in 2017 - Cloud,

BigData, AI Strategy. In 2022, after the successful launch of ChatGPT, the company found that the AIGC industry will have a competitive future

The trend of big development. Based on this, in 2023, the company will focus on researching the phased market opportunities in the AIGC industry, and carry out targeted product innovation and combination solutions. In terms of market development, the marketing resources focus on the publicity and promotion in the field of AIGC, and the company has accumulated excellent user reputation in the AIGC industry.

4. Forward-looking international layout

Since its establishment, the company has always been committed to becoming a cloud computing service provider with international business capabilities, and has taken overseas development as one of the company's important development strategies. The company has long attached importance to the construction of overseas data centers, and the number of global availability zones has reached 31, covering 24 regions around the world, including Chinese mainland, Hong Kong and Taiwan, Europe and the United States, Southeast Asia, Africa and other places, among which the comprehensive coverage in Southeast Asia is leading the industry.

5. Excellent customer service ability

The sales of the company's products are mainly direct sales. The company provides users with "7×24-hour technical team online, 90-second quick response, 5-minute work order reply" service, one-to-one engineer support service of the back-end technical support department, and on-site service of heavy insurance activities, forming a complete customer service system and forming a good reputation in the industry. Competitors are mainly subsidiaries or business units of large enterprise groups, compared to which companies are more customer-oriented.

Respond faster to customer needs and provide flexible and customized services.

In summary, there were no adverse changes in the company's core competitiveness from January to June 2024.

7. Changes in R&D expenditure and R&D progress

1. R&D expenditure and changes

The company takes technology research and development as the core, and continues to invest more research and development expenditure in order to maintain product and technology advantages. In 2024

From January to June, the company's R&D expenses were 96.844 million yuan, a decrease of 12.07% from the same period in 2023, mainly due to R&D personnel

This was due to a decrease in total compensation costs and share-based incentive expenses.

2. R&D progress

During the reporting period, the company applied for 1 new invention patent. As of June 30, 2024, the company has accumulated a total of 220 intellectual property rights, including 102 invention patents, 8 utility model patents, 2 design patents, and software

108 copyrights.

8. Whether the progress of the new business is consistent with the information disclosed in the previous period

Not applicable.

9. The use of the raised funds and whether they are compliant

As of June 30, 2024, the company has used the raised funds to invest in the fundraising projects

RMB1,923,291,707.95, payment of issuance expenses of RMB18,400,286.26, supplementary liquidity of RMB100,000,000.00, other handling fees of RMB36,073.08, interest income generated by the deposit of raised funds totaled RMB107,631,488.4, and the balance of the raised funds account was RMB615,545,265.62.

1. Initial issuance

Item Amount (RMB)

The actual amount of funds raised on January 14, 2020 was 1,856,641,862.46

Less: The amount of funds raised was 1,553,316,365.89

Less: Issuance costs 16,716,871.84

Less: Handling fee 31,052.20

Add: Interest income 91,839,573.96

Balance on 30/06/2024 378,417,146.49

2. Private placement

Item Amount (RMB)

The actual amount of funds raised on January 25, 2022 was 692,999,982.05

Less: The amount of funds raised was 369,975,342.06

Less: Issuance costs of 1,683,414.42

Less: Handling fee 5,020.88

Less: Replenishment of liquidity 100,000,000.00

Plus: Interest income 15,791,914.44

Balance on 30-06-2024 237,128,119.13

As of June 30, 2024, the company has 8 special accounts for raised funds, and the deposit of raised funds is as follows:

Unit: RMB

Bank of account Company Bank account Balance of funds raised Project Type of supervision Nature of account

In the data of Youkede, Jining District, Ulanqab City, Inner Mongolia

Bank of Shanghai Co., Ltd. Huangpu Sub-branch UCD Technology Co., Ltd. 03004042928 3,144,443.84 Sifang Supervision Current

Heart Project (Phase 1 & 2)

Inner Mongolia Youkede Information Technology has Youkede data in Jining District, Ulanqab City, Inner Mongolia

China Everbright Bank Co., Ltd. Shanghai South Sub-branch 76340188000156419 244,463,673.65 Sifang Supervision Current

Limited Liability Company Heart Project (Phase I & II)

China Everbright Bank Co., Ltd. Shanghai South Sub-branch UCD Technology Co., Ltd. 76340188000152090 110,755,135.87 New Generation Artificial Intelligence Service Platform Project Tripartite Supervision Current

China Construction Bank Corporation Shanghai Chuansha Sub-branch UCD Technology Co., Ltd. 31050161413600002788 580.31 Multimedia Cloud Platform Project Tripartite Supervision Current

Bank of China Shanghai Nanxiang Sub-branch UCD Technology Co., Ltd. 455979121166 20,053,312.82 Application Data Security Circulation Platform Project in Network Environment Tripartite Supervision Current

China Everbright Bank Co., Ltd., Shanghai Branch UCD Technology Co., Ltd. 36810180809825866 170,834,225.96 UCD Qingpu Data Center Project (Phase I) Tripartite Supervision Current Termination

Industrial and Commercial Bank of China Co., Ltd. Shanghai Yangtze River Delta (Shanghai) Data Technology Co., Ltd. has

1001729929000255763 66,293,893.17 UCD Qingpu Data Center Project (Phase I) Four-party supervision Current

The sub-branch of the integrated demonstration zone is limited to the company

UCD (Shanghai) Data Technology has

China Everbright Bank Co., Ltd. Shanghai Branch 36510188001500628 0.00 New Generation Artificial Intelligence Service Platform Project Four-Party Supervision Current

Limited to companies

Total 615,545,265.62

Note 1: The implementation body of the UCD data center project (Phase I and Phase II) in Jining District, Ulanqab City, Inner Mongolia is "UCD Technology Co., Ltd." and its wholly-owned subsidiary "Inner Mongolia UCD Information Technology Co., Ltd.", so there is also a four-party supervision account in Inner Mongolia.

Note 2: The implementation body of UCD Qingpu Data Center Project (Phase I) is "UCD Technology Co., Ltd." and its wholly-owned subsidiary "UCD (Shanghai) Data Technology Co., Ltd.", so there is also a four-party supervision account in UCD (Shanghai) Data Technology.

Note 3: The main body of the implementation of the new generation of artificial intelligence service platform project is "UCD Technology Co., Ltd." and its wholly-owned subsidiary "UCD (Shanghai) Data Technology Co., Ltd.", so there is also a four-party supervision account in UCD (Shanghai) Data Technology.

The deposit and use of the company's raised funds in the first half of 2024 complied with the provisions of laws, regulations and institutional documents such as the Listing Rules of the Science and Technology Innovation Board of the Shanghai Stock Exchange, the Self-Regulatory Guidelines for Listed Companies on the Shanghai Stock Exchange No. 1 - Standardized Operation, and the company's System for the Use of Raised Funds. There is no disguised change in the use of raised funds and damage to the interests of shareholders, and there is no illegal use of raised funds. 10. Shareholding, pledge, freezing and reduction of shareholdings, pledges, freezes and holdings of controlling shareholders, actual controllers, directors, supervisors and senior managers

As of June 30, 2024, the controlling shareholder, actual controller and current directors, supervisors and senior management of the Company

The direct shareholding of the personnel is as follows:

Serial No. Name Position Number of Shares Held (Shares)

1 Ji Xinhua Co-controlling Shareholder and Actual Controller, Dong 50,831,173

President, Chief Executive Officer and President

2 Mo Xianfeng, co-controlling shareholder and actual controller 23,428,536

3 Hua Kun Joint Controlling Shareholder and Actual Controller 23,428,536

As of June 30, 2024, the controlling shareholder, actual controller and current directors, supervisors and senior management of the Company

There is no pledge, freezing or reduction of the above-mentioned shares directly held by the personnel.

In addition, Ji Xinhua, Mo Xianfeng, Hua Kun, directors, chief financial officer Gui Shuifa, and Xu Hongjie, secretary of the board of directors, through the employee stock ownership platform (Jiaxing Yunxian Enterprise Management Partnership (Limited Partnership), Jiaxing Yunhua Enterprise Management Partnership (Limited Partnership), Jiaxing Yunneng Enterprise Management Partnership (Limited Partnership), Jiaxing Yunyou Enterprise Management Partnership (Limited Partnership), Jiaxing Yunju Enterprise Management Partnership (Limited Partnership), Jiaxing Yunfu Investment Management Partnership (Limited Partnership) and Jiaxing Yunxin Investment Management Partnership (Limited Partnership) indirectly hold shares of the company.

At the same time, prior to the issuer's listing, the controlling shareholder, actual controller, and current directors, supervisors and senior management of the issuer participated in the strategic placement collective asset management plan of the STAR Market (hereinafter referred to as "Dayou No. 1 Capital") through the employees of Dayou No. 1

As of June 30, 2024, Dayou No. 1 Asset Management Plan held shares of the issuer

The number of shares is 543,787 shares.

11. Other matters on which the Shanghai Stock Exchange or the sponsor institution deems it necessary to express its opinions

As of the date of issuance of this continuous supervision and follow-up report, there are no other matters that the sponsor believes should be expressed.