Haitong Securities Co., Ltd. about Aojie Technology Co., Ltd

Verification opinions on the use of part of the temporarily idle raised funds for cash management

Haitong Securities Co., Ltd. (hereinafter referred to as "Haitong Securities" or the "Sponsor"), as the sponsor of the initial public offering and listing of Aojie Technology Co., Ltd. (hereinafter referred to as "Aojie Technology" or the "Company"), in accordance with the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing, the Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Funds Raised by Listed Companies, the Listing Rules for Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange, and the Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange. Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation" and other relevant provisions have verified the company's use of part of the idle raised funds for cash management, the details are as follows:

First, the basic situation of the funds raised

Approved by the China Securities Regulatory Commission (hereinafter referred to as the "CSRC") in December 2021

The "Reply on Agreeing to the Registration of the Initial Public Offering of Shares of Aojie Technology Co., Ltd." (Zheng Jian Xu Xu [2021] No. 3936) issued on the 14th and the Shanghai Stock Exchange's Self-Regulatory Decision ([2022] No. 11) approved the company's initial public offering of 41,830,089 RMB ordinary shares (A shares) to the public at an issue price of RMB 164.54 per share, raising a total of RMB 6,882,722,800, after deducting the issuance expenses. The actual net amount of funds raised was RMB654,643.20 million.

The proceeds were secured on January 10, 2022. PricewaterhouseCoopers Zhongtian Certified Public Accountants (special

Shu General Partnership) verified the receipt of the funds raised in this issuance, and issued the "Capital Verification Report" of PricewaterhouseCoopers Zhongtian Yanzi (2022) No. 0046. In order to standardize the management and use of the company's raised funds and protect the rights and interests of investors, the company has set up a special account for relevant raised funds. After the raised funds are received, they have all been deposited in the special account for raising funds approved by the board of directors of the company.

According to the Prospectus for the Initial Public Offering of Shares and Listing on the Science and Technology Innovation Board, the Announcement on Using Own Funds to Make Additional Investment in Fund-raising Projects (Announcement No.: 2022-027) and the Announcement on Changing the Fund-raising Projects and Investing Part of the Raised Funds in New Projects (Announcement No.: 2023-062), the funds raised from the Company's initial public offering of shares will be used for the following projects after deducting the issuance costs:

Serial No. Investment Direction Project Name Total Investment Amount Raised Funds

(10,000 yuan) (10,000 yuan)

Commercial 5G Enhanced Mobile Broadband Final 75,000.00 20,000.00

Research and development of new communication core chip platform

1 chip design 5G industrial IoT chip project 50,805.99 50,805.99

Commercial WiFi6 chip project 35,449.13 35,449.13

2 Development of software and hardware platforms for a new generation of smart wearable devices 26,800.00 16,845.57

project

3 Convergence of multiple wireless protocols and high-precision navigation in multiple fields 29,613.06 29,613.06

Positioning the overall solution and platform project

4 R&D center construction project 17,268.13 17,268.13

5 Supplementary liquidity items 60,000.00 60,000.00

Total 294,936.31 229,981.88

As of the date of issuance of this verification opinion, the company's fund-raising and investment projects are actively promoted in accordance with the established plan, because the construction and investment of the raised funds investment projects require a certain period, and according to the company's plan for the use of raised funds, some of the company's raised funds are temporarily idle.

2. Specific arrangements for using idle raised funds for cash management

(1) Investment purpose

The company's fund-raising project is being actively promoted, and based on the need to gradually invest the raised funds in phases and projects, the raised funds that have not been put into use according to the plan will be partially idle in the short term. In order to improve the efficiency of the use of funds, the company intends to use part of the idle raised funds for cash management under the premise of ensuring that the construction of the raised funds project and the plan for the use of raised funds are not affected, and the risks are effectively controlled, so as to increase capital returns and maintain capital liquidity.

(2) Investment varieties

The company will strictly control risks in accordance with relevant regulations, use part of the temporarily idle raised funds for cash management, and purchase investment products with high security, good liquidity and capital protection requirements in a timely manner (including but not limited to principal-protected wealth management products, contract deposits, structured deposits, time deposits, large negotiable certificates of deposit, etc.), with a product term of no more than 12 months, and the relevant products shall not be used for pledge or investment for the purpose of securities investment.

(3) Investment amount and term

RMB40,000,000 (inclusive) of temporarily idle raised funds will be used for cash management, and the above funds can be used on a rolling basis during the validity period.

(4) Methods of implementation

The board of directors authorizes the chairman of the board of directors of the company to exercise the decision-making power on this matter within the validity period and the amount of funds and sign the relevant contract documents, which is valid for 12 months from the date of deliberation and approval by the board of directors. The company's finance department is responsible for organizing and implementing specific matters.

(5) Information disclosure

The company will fulfill its information disclosure obligations in a timely manner in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shanghai Stock Exchange, and will not change the use of raised funds in disguise.

(6) Distribution of cash management income

The company's cash management proceeds belong to the company, and are preferentially used to make up for the insufficient investment amount of the fund-raising project, as well as the liquidity required for the company's daily operation, and strictly follow the requirements of the China Securities Regulatory Commission and the Shanghai Stock Exchange on the regulatory measures for raising funds to manage and use the funds, and the cash management will be returned to the special account for raising funds after expiration.

3. Impact on the company's daily operations

On the premise of ensuring the construction progress of the fund-raising project and the safety of funds, the company uses part of the idle raised funds for cash management, which does not affect the capital turnover and needs of the company's fund-raising projects. Through proper cash management, we can improve the efficiency of the use of raised funds, obtain certain investment returns, improve the overall performance level of the company, and seek more investment returns for the company's shareholders, which is in line with the interests of the company and all shareholders.

4. Investment risks and risk control measures

(1) Investment risk

1. The investment products to be purchased by the company are low-risk investment varieties, but the financial market is affected by macroeconomic factors and other factors, and it is not excluded that investment income will be affected by market fluctuations;

2. The company will intervene appropriately according to the economic situation and changes in the financial market, so the actual return of short-term investment is unpredictable.

(2) Risk control measures

1. The board of directors of the company authorizes the chairman of the board of directors to exercise the investment decision-making power and sign relevant contract documents, including (but not limited to) selecting high-quality cooperative financial institutions, clarifying the amount and period of cash management, selecting cash management product varieties, signing contracts and agreements, etc. The company's finance department is responsible for organizing and implementing, timely analyzing and tracking the investment direction and project progress of financial institutions' cash management products, and taking corresponding preservation measures in a timely manner to control investment risks once unfavorable factors are found or judged.

2. The company's internal audit department is responsible for reviewing the approval of cash management, actual operation, use of funds and income, etc., and urging the finance department to carry out accounting processing in a timely manner and verify the accounting processing. At the end of each quarter, we conduct a comprehensive review of the cash management product investment projects of all financial institutions, and reasonably estimate the possible returns of each investment according to the principle of prudence.

3. The independent directors and the board of supervisors have the right to supervise and inspect the use of funds, and may hire professional institutions to conduct audits when necessary.

4. The company will strictly follow the "Guidelines for the Supervision of Listed Companies No. 2 - Management of Funds Raised by Listed Companies".

and regulatory requirements for use", "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation" and other relevant provisions to handle relevant cash management business.

V. Deliberation Procedure

On March 28, 2025, the company held the twelfth meeting of the second board of directors and the second board of supervisors

At the 10th meeting, the "Proposal on Using Part of the Temporarily Idle Raised Funds for Cash Management" was deliberated and approved, and it was agreed that the Company and its wholly-owned subsidiaries should use part of the temporarily idle raised funds up to RMB 40,000 (inclusive) for cash management without affecting the progress of the investment projects of the raised funds and the plan for the use of the raised funds, and purchase investment products with high security, good liquidity and meeting the requirements of capital protection in a timely manner (including but not limited to principal-protected wealth management products, contract deposits, structured deposits, Time deposits, negotiable certificates of deposit, etc.), within the scope of the above quota, the funds can be used on a rolling basis, and the authorization is valid for 12 months from the date of approval by the board of directors.

6. Explanation of special opinions

(1) Opinions of the Board of Supervisors

The Board of Supervisors believes that, on the premise of ensuring the safety of funds, the Company and its wholly-owned subsidiaries intend to use part of the temporarily idle raised funds with a quota of no more than RMB 40,000 (inclusive) to purchase investment products with high security, good liquidity and meet the requirements of capital protection in a timely manner (including but not limited to principal-protected wealth management products, agreement deposits, structured deposits, time deposits, large-amount negotiable certificates of deposit, etc.), which is conducive to the efficient use of funds and the improvement of cash management income. There is no disguised change in the use of the raised funds or damage to the interests of shareholders. Approved the company and its wholly-owned subsidiaries to use part of the temporarily idle raised funds for cash management.

7. Verification opinions of the sponsor institution

After verification, the sponsor believes that the company's use of part of the temporarily idle raised funds for cash management has been deliberated and approved by the company's board of directors and board of supervisors, and the necessary approval procedures have been fulfilled; By investing in wealth management products with high security and good liquidity, the company can improve the efficiency of capital use, does not involve a disguised change in the use of raised funds, does not affect the normal operation of the investment plan of raised funds, and complies with the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds by Listed Companies", "Rules for the Listing of Stocks on the Science and Technology Innovation Board of the Shanghai Stock Exchange", and "Self-Regulatory Guidelines for Listed Companies on the Science and Technology Innovation Board of the Shanghai Stock Exchange No. 1 - Standardized Operation" and other relevant regulations and the management measures for the use of the company's raised funds. The sponsor has no objection to the company's use of part of the temporarily idle raised funds for cash management.

(No text below)

(There is no text on this page, it is the signed and stamped page of the "Verification Opinion of Haitong Securities Co., Ltd. on the Use of Part of the Temporarily Idle Raised Funds by Aojie Technology Co., Ltd. for Cash Management")

Signature of the Sponsor Representative:

Wang Pengcheng Gong Siqi

Haitong Securities Co., Ltd

Year, Month, Day