Securities code: 688525 Securities abbreviation: BIWIN Storage Announcement No.: 2025-001

Shenzhen BIWIN Storage Technology Co., Ltd

2024 Annual Results Forecast

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

1. Forecast of performance for the current period

(1) The performance forecast period

January 1, 2024 to December 31, 2024.

(2) Performance forecast

Expected results: Turnaround

1. According to the preliminary calculation of the financial department, it is expected that Shenzhen BIWIN Storage Technology Co., Ltd. (hereinafter referred to as the "Company") will achieve operating income of 650,000 yuan to 700,000 yuan in 2024, an increase of 290,924.78 million yuan to 340,924.78 million yuan compared with the same period of the previous year, a year-on-year increase of 81.02% to 94.95%.

2. It is estimated that the net profit attributable to the owners of the parent company in 2024 will be 160 million yuan to 200 million yuan, an increase of 784.3589 million yuan to 824.3589 million yuan compared with the same period of the previous year, a year-on-year increase of 125.63% to 132.03%.

3. The company's share-based payment expenses in 2024 will be about 345.4901 million yuan, and after excluding share-based payment expenses, it is expected that the net profit attributable to the owners of the parent company in 2024 will be 505.4901 million yuan to 545.4901 million yuan, an increase of 998.9788 million yuan to 1038.9788 million yuan compared with the same period last year, a year-on-year increase of 202.43% to 210.54%.

4. It is estimated that the net profit attributable to the owners of the parent company after deducting non-recurring gains and losses in 2024 will be 65.00 million yuan to 90.00 million yuan, an increase of 706.7578 million yuan to 731.7578 million yuan compared with the same period of the previous year, a year-on-year increase of 110.13% to 114.02%.

(3) This performance forecast has not been audited by a certified public accountant.

Second, the performance and financial situation of the same period of the previous year

(1) Total profit in 2023: -742.0284 million yuan

(2) Operating income in 2023: 3590.7522 million yuan;

(3) Net profit attributable to owners of the parent company in 2023: -624.3589 million yuan;

(4) Net profit attributable to owners of the parent company after deducting non-recurring gains and losses in 2023: -641.7578 million yuan;

(5) 2023 earnings per share: -1.45 yuan/share.

3. The main reasons for the change in the performance of the current period

During the reporting period, the company's net profit attributable to the owners of the parent company, net profit attributable to the owners of the parent company after deducting non-recurring gains and losses, operating income and R&D investment increased significantly over the same period last year, mainly due to:

(1) Affected by the main business

1. The storage industry has recovered, and the company's business has grown significantly. In 2024, the company will firmly grasp the upward opportunities of the industry, vigorously expand first-line mobile phone and PC customers at home and abroad, achieve a breakthrough in market and business growth, product sales will increase significantly year-on-year, and the company's operating income will increase by 81.02% to 94.95% year-on-year;

2. The company has been deeply engaged in the field of smart wearables for many years, and has built a differentiated competitive advantage, the company's representative storage products such as ePOP have the advantages of low power consumption, fast response, light and thin and compact, and the products have performed well, and have entered the supply chain system of well-known AI/AR glasses manufacturers at home and abroad such as Meta, Rokid, Thunderbird Innovation, and Shanji, as well as Google, Little Genius, Xiaomi and other well-known smart wearable manufacturers at home and abroad. In 2024, the revenue of smart wearable storage products will be about 800 million yuan, a significant year-on-year increase. In 2025, with the increase in the volume of AI glasses, the company's cooperation with key customers such as Meta will continue to deepen, which will promote the continuous growth of the company's smart wearable storage business;

3. The company continues to increase R&D investment in the fields of solution research and development, chip design, advanced packaging and testing and testing equipment, and the R&D expenditure in 2024 will be about 450 million yuan, a year-on-year increase of about 80%;

4. The company's share-based payment expenses in 2024 will be about 345.4901 million yuan, and it is expected that the share-based payment expenses will be significantly reduced in 2025.

(2) Affected by non-recurring gains and losses

During the reporting period, the impact of non-recurring gains and losses on net profit is expected to be between RMB95 million and RMB110 million, mainly due to investment income included in profit and loss for the period and the impact of government subsidies.

4. Risk Warning

The forecast data is only the preliminary accounting results of the company's financial department and has not been audited by an accounting firm. The specific and accurate financial data are subject to the company's officially disclosed 2024 annual report, please pay attention to the investment risks. At present, the company has not found any uncertainties that have a significant impact on the accuracy of this earnings forecast.

5. Other explanatory matters

The above forecast data is only preliminary accounting data, and the specific and accurate financial data are subject to the company's officially disclosed 2024 annual report.

The announcement is hereby made.

Board of Directors of Shenzhen BIWIN Storage Technology Co., Ltd

January 24, 2025