Securities code: 688072 Securities abbreviation: Tuojing Technology Announcement No.: 2025-021

Tuojing Technology Co., Ltd

Announcement on the listing and circulation of some restricted shares in the initial public offering

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.

Important Content Notes:

The type of stock listing is the initial offering of restricted shares; The number of shares listed is 124,480,525 shares.

The total number of shares outstanding in this listing is 124,480,525 shares.

The stock will be listed for circulation on April 21, 2025.

1. The types of restricted shares that are listed and circulated this time

On March 1, 2022, the China Securities Regulatory Commission issued the "Approval of Tuojing Technology Co., Ltd

The approval of the registration of the company's initial public offering of shares (Zheng Jian Xu Xu [2022] No. 424) agrees to the registration application for the initial public offering of shares of Tuojing Technology Co., Ltd. (hereinafter referred to as the "Company"), and the company is the first to the public

The public offering of 31,619,800 RMB ordinary shares (A shares) took place on 20 April 2022

Listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange. After the completion of the initial public offering of shares, the total share capital of the company is 126,478,797 shares, of which 100,308,044 shares are restricted and 26,170,753 are unrestricted shares.

The restricted shares listed and circulated this time are the restricted shares of the company's initial public offering, involving 21 shareholders of restricted shares, and the restricted period is 36 months from the date of listing of the company's shares

Some companies have 56,830,042 restricted shares in the initial offering, which have been approved by the company for the 2023 semi-annual and 2023 annual periods

After the conversion of capital reserve into share capital, the number of shares held became 124,480,525 shares, accounting for 44.5004% of the company's total shares.

The restriction will be lifted on April 21, 2025 and will be put into circulation.

2. Changes in the number of shares of the company since the formation of the restricted shares listed and circulated

In 2023, the company implemented the 2023 semi-annual capital reserve conversion plan to share capital

All shareholders increased their share by 0.48 shares, for a total of 60,709,823 shares, and the total share capital of the company increased to 187,188,620 shares. For details, please refer to the company's disclosure on the Shanghai Stock Exchange website on September 28, 2023

The "2023 Semi-annual Equity Distribution Implementation Results and Share Listing Announcement" (Announcement No.: 2023-054) of the station (www.sse.com.cn).

In 2023, the company completed the vesting of the first vesting period of the 2022 restricted stock incentive plan

and complete the registration of the above-mentioned restricted stock vesting on December 28, 2023

Upon completion, the Company added 999,635 new shares, bringing the total share capital of the Company to 188,188,255 shares. Specifics

For details, please refer to the Company's disclosure on the website of the Shanghai Stock Exchange (www.sse.com.cn) on December 30, 2023

Announcement on the Vesting Results of the First Vesting Period of the 2022 Restricted Stock Incentive Plan and the Listing of Shares (Announcement No.: 2023-079).

In 2024, the company implemented the 2023 annual capital reserve conversion plan to share capital to implement equity distribution

The total share capital registered on the share record date is deducted from the shares in the company's special securities account for repurchase, and the capital reserve is transferred to all shareholders by 0.48 shares per share, for a total of 90,132,587 shares, and the total share capital of the company will increase after the conversion

to 278,320,842 shares. For details, please refer to the company's disclosure on the Shanghai Stock Exchange on June 4, 2024

"2023 Annual Equity Distribution Implementation Announcement" (Announcement No.: 2024-037) on the website (www.sse.com.cn).

In January 2025, the Company completed the vesting of the second vesting period of the 2022 restricted stock incentive plan

After the completion of the vesting registration, the company added 1,408,276 shares, and the company's total share capital increased to

279,729,118 shares. For details, please refer to the company's disclosure on the Shanghai Stock Exchange website on January 22, 2025

"Announcement on the Vesting Results of the Second Vesting Period of the 2022 Restricted Stock Incentive Plan and Share Listing" (Announcement No.: 2025-004) of the station (www.sse.com.cn).

3. The relevant commitments of the restricted shares listed and circulated this time

According to the Prospectus for the Initial Public Offering of Shares of Tuojing Technology Co., Ltd. and the Announcement on the Listing of Initial Public Offering of Shares on the Science and Technology Innovation Board of Tuojing Technology Co., Ltd., the relevant commitments of the shareholders who applied for the lifting of the restricted shares on the restricted shares held by them are as follows:

(1) Commitment on share lock-up

1. National Integrated Circuit Industry Investment Fund Co., Ltd. (hereinafter referred to as "National Integrated Circuit Fund") and SDIC (Shanghai) Science and Technology Achievement Transformation Venture Capital Fund Enterprise (Limited Partnership) (hereinafter referred to as "SDIC Shanghai")

Commitment on share lock-up

"The State Integrated Circuit Fund and SDIC Shanghai, as the major shareholders of the issuer, issued the "Letter of Commitment on the Lock-up of the Shares of Tuojing Technology Co., Ltd." on the lock-up of the shares of the issuer held by them, the main contents of which are as follows:

(1) Within 36 months from the date of listing of the issuer's shares, the company/the company will not transfer or entrust others to manage the shares issued by the issuer directly or indirectly held by the company/the company before the issuance and listing, nor will it propose that the issuer repurchase such shares.

(2) If the Company/the Company violates the above commitments or the mandatory provisions of laws and regulations to reduce the shares of the issuer, the Company/the Company will bear the relevant responsibilities in accordance with the regulations of the China Securities Regulatory Commission and the stock exchanges on which it is listed.

(3) The Company/the Company will comply with the relevant provisions of the China Securities Regulatory Commission's Several Provisions on the Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Executives of Listed Companies, the Stock Listing Rules of the Shanghai Stock Exchange, and the Implementation Rules for the Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Managers of Listed Companies on the Shanghai Stock Exchange. ”

2. The commitment of the directors or senior managers and core technical personnel Jiang Qian, Lv Guangquan and Zhang Xiaoyong on the lock-up of shares

Jiang Qian, as the shareholder, director, and core technical personnel of the issuer, and Lv Guangquan and Zhang Xiaoyong, as the shareholders of the issuer, Jiang Qian's concerted actors, directors or senior managers, and core technical personnel, issued the "Letter of Commitment on the Lock-up of the Shares of Tuojing Technology Co., Ltd." on the lock-up of the shares of the issuer held by them, the main contents of which are as follows:

(1) Within 36 months from the date of listing of the issuer's shares, I will not transfer or entrust others to manage the shares issued by the issuer directly or indirectly held by me before the issuance and listing (hereinafter referred to as the "pre-IPO shares"), nor will I propose that the issuer repurchase such shares.

(2) Before the issuer realizes a profit, within 3 full fiscal years from the date of listing of the issuer's shares, it will not transfer or entrust others to manage the pre-IPO shares held by the issuer, nor will it propose that the issuer repurchase such shares; Within the aforesaid 3 full fiscal years, after the issuer has achieved profitability, I may reduce my holdings of pre-IPO shares from the later of the day after the disclosure of the issuer's annual report for the current year and the expiration date of 36 months from the date of listing of the issuer's shares.

(3) Within 6 months after the issuer's listing, if the closing price of its shares is lower than this for 20 consecutive trading days

The issue price of the issuer's shares (hereinafter referred to as the "issue price") at the time of the issuance and listing, if the issuer pays dividends, gives shares, converts capital reserve into share capital and other ex-rights and dividends after the issuance and listing, the issue price shall be treated as ex-rights and dividends, the same below), or the closing price at the end of the 6-month period after listing (if the day is not a trading day, it is the first trading day after that day) is lower than the issue price, the lock-up period of the pre-IPO shares held by me will be automatically extended for 6 months.

(4) Within two years after the expiration of the above-mentioned lock-up period, if I reduce my holdings of pre-IPO shares, the reduction price shall not be lower than the issue price.

(5) After the expiration of the above-mentioned lock-up period, during my tenure as a director, supervisor or senior management of the issuer, the annual transfer of the issuer's shares shall not exceed 25% of the total number of shares of the issuer held by me; Within half a year after resignation, I will not transfer the shares of the issuer held by me.

(6) Within 4 years from the date of expiration of the above-mentioned lock-up period, the annual transfer of pre-IPO shares shall not exceed 25% of the total number of pre-IPO shares held by me at the time of listing of the issuer, and the reduction ratio can be used cumulatively.

(7) If I reduce my holdings of the issuer's shares in violation of the above commitments or the mandatory provisions of the law, I promise that the income from the illegal reduction of the issuer's shares (hereinafter referred to as the "illegal reduction income") shall belong to the issuer. If I fail to hand over the proceeds of the illegal reduction to the issuer, the issuer has the right to collect the amount of the cash dividends payable to me equal to the amount of the proceeds from the illegal reduction. The above-mentioned share lock-up and shareholding reduction price commitments shall not be terminated due to the change of position, resignation, etc.

(8) I will comply with the relevant provisions of the China Securities Regulatory Commission's "Several Provisions on the Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Executives of Listed Companies", the "Stock Listing Rules" of the Shanghai Stock Exchange, and the "Implementation Rules for the Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Managers of Listed Companies on the Shanghai Stock Exchange". ”

3. Shareholders Liu Yijun, Ling Fuhua, Wu Biao, Zhou Ren and Zhang Xianzhi's commitment to share lock-up

Liu Yijun, Ling Fuhua, Wu Biao, Zhou Ren and Zhang Xianzhi, as the shareholders of the issuer and Jiang Qian, acted in concert with each other to issue the "Letter of Commitment on the Lock-up of the Shares of Tuojing Technology Co., Ltd.", the main contents of which are as follows:

(1) Within 36 months from the date of listing of the issuer's shares, I will not transfer or entrust others to manage the shares issued by the issuer that I directly or indirectly hold before the issuance and listing, nor will I propose to be issued by the issuer

(2) If I reduce my holdings of the issuer's shares in violation of the above commitments or the mandatory provisions of the law, I promise that the proceeds from the illegal reduction of the issuer's shares shall belong to the issuer. If I fail to hand over the proceeds of the illegal reduction to the issuer, the issuer has the right to collect the amount of the cash dividends payable to me equal to the amount of the proceeds from the illegal reduction. The above-mentioned share lock-up and shareholding reduction price commitments shall not be terminated due to the change of position, resignation, etc.

(3) I will comply with the relevant provisions of the China Securities Regulatory Commission's Several Provisions on the Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Managers of Listed Companies, the Stock Listing Rules of the Shanghai Stock Exchange, and the Implementation Rules for the Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Managers of Listed Companies on the Shanghai Stock Exchange. ”

4. Employee stock ownership platform Gongqingcheng Xinxinhe Investment Partnership (Limited Partnership) (hereinafter referred to as "Xinxinhe"), Gongqingcheng Xinxinquan Investment Partnership (Limited Partnership) (hereinafter referred to as "Xinxinquan"), Gongqingcheng Xinxinlong Investment Partnership (Limited Partnership) (hereinafter referred to as "Xinxinlong"), Gongqingcheng Xinxincheng Investment Partnership (Limited Partnership) (hereinafter referred to as "Xinxincheng"), Gongqingcheng Xinxinwang Investment Partnership (Limited Partnership) (hereinafter referred to as "Xinxinwang"), Gongqingcheng Xinxinsheng Investment Partnership (Limited Partnership) (hereinafter referred to as "Xinxinsheng"), Gongqingcheng Xinxinyang Investment Partnership (Limited Partnership) (hereinafter referred to as "Xinxinyang"), Shenyang Shengteng Investment Management Center (Limited Partnership) (hereinafter referred to as "Shenyang Shengteng"), Shenyang Shengwang Investment Management Center (Limited Partnership) (hereinafter referred to as "Shenyang Shengwang"), Shenyang Shengquan Investment Management Center (Limited Partnership) (hereinafter referred to as "Shenyang Shengquan"), Shenyang Shenglong Investment Management Center (Limited Partnership) (hereinafter referred to as "Shenyang Shenglong") commitment on share lock-up

"Xin Xinhe, Xin Xinquan, Xin Xinlong, Xin Xincheng, Xin Xinwang, Xin Xinsheng, Xin Xinyang, Shenyang Shengteng, Shenyang Shengwang, Shenyang Shengquan and Shenyang Shenglong, as the shareholders of the issuer, the employee shareholding platform and Jiang Qian, issued the "Letter of Commitment on the Lock-up of the Shares of Tuojing Technology Co., Ltd." on the lock-up of the shares of the issuer held by them, the main contents of which are as follows:

(1) Within 36 months from the date of listing of the issuer's shares, the company will not transfer or entrust others to manage the shares issued by the issuer directly or indirectly held by the company before the issuance and listing, nor will it propose that the issuer repurchase such shares.

(2) If the company reduces its shareholding in the issuer in violation of the above commitments or mandatory provisions of the law, the enterprise undertakes that the proceeds from the illegal reduction of the issuer's shares (hereinafter referred to as the "income from illegal reduction") shall belong to the issuer. Such as this enterprise

If the issuer fails to hand over the proceeds of the illegal shareholding reduction, the issuer has the right to collect the amount of the cash dividends payable to the enterprise equal to the amount of the proceeds from the illegal shareholding reduction to the issuer.

(3) The company will comply with the relevant provisions of the China Securities Regulatory Commission's "Several Provisions on the Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Executives of Listed Companies", the "Stock Listing Rules" of the Shanghai Stock Exchange, and the "Implementation Rules for the Reduction of Shareholdings by Shareholders, Directors, Supervisors and Senior Managers of Listed Companies on the Shanghai Stock Exchange". ”

(2) Commitment on the intention to hold shares and reduce shareholdings

1. Commitment of the National Integrated Circuit Fund

As the largest shareholder of the issuer, the National Integrated Circuit Fund issued the "Letter of Commitment on the Intention to Hold Shares and Shareholding Intention and Shareholding Intention of Tuojing Technology Co., Ltd. before the initial public offering and listing" of the issuer's shares, the main contents of which are as follows:

(1) Conditions for reducing shareholdings

As a major shareholder of the issuer, the Company strictly follows the lock-up period requirements set forth in the Company's initial public offering prospectus and the commitments issued by the Company, and strictly abides by the relevant laws, regulations, normative documents and regulatory requirements, and does not reduce its holdings of the issuer's shares during the lock-up period.

(2) The way to reduce shareholdings

After the expiration of the lock-up period, if the Company intends to reduce its shareholding in the issuer, it shall do so in accordance with the requirements of relevant laws and regulations and the rules of the Shanghai Stock Exchange, and shall not violate the commitments made by the Company, including but not limited to centralized bidding transactions in the secondary market, block trading, transfer by agreement, etc.

and (3) the price at which the shares are reduced

The price at which the Company reduces its holdings of the issuer's shares shall be determined with reference to the prevailing secondary market price, and shall comply with the requirements of relevant laws and regulations and the rules of the Shanghai Stock Exchange.

(4) The period for reducing shareholdings

After the expiration of the lock-up period (including the extended lock-up period) of the issuer's shares held by the Company, when the number of shares of the issuer held by the Company accounts for not less than 5% of the total number of shares of the issuer, the Company shall notify the issuer in writing in advance of the information such as the intention to reduce its holdings and the number of shares to be reduced.

The Company may reduce its holdings of the issuer's shares only after 3 trading days from the date of the issuer's announcement, and the time range for each disclosure shall not exceed 6 months, and the information disclosure obligations shall be fulfilled in a timely and accurate manner in accordance with the rules of the stock exchange.

(5) Comply with the relevant laws, regulations, rules and rules at that time

When the Company reduces its shareholdings, the Company will also comply with the relevant laws, regulations, rules and regulations that the Company shall comply with at that time, as well as the relevant regulations of the China Securities Regulatory Commission or the exchanges listed by the issuer on the reduction of shareholdings by shareholders.

(6) Strictly fulfill the above commitments

The company will strictly fulfill the above commitments, and if it fails to fulfill the above commitments, it will assume relevant responsibilities in accordance with the regulations of the China Securities Regulatory Commission and the stock exchange. ”

2. SDIC Shanghai commitment

As a shareholder of more than 5% of the issuer's direct shares, SDIC Shanghai issued the "Letter of Commitment on the Intention to Hold Shares and Shareholding Reduction Intentions of Tuojing Technology Co., Ltd. before the initial public offering and listing of Tuojing Technology Co., Ltd.", the main contents of which are as follows:

(1) Conditions for reducing shareholdings

As a major shareholder of the issuer, the company/company shall strictly comply with the lock-up period requirements set forth in the company's initial public offering prospectus and the commitment issued by the company/the company, and strictly abide by the relevant laws, regulations, normative documents and regulatory requirements, and shall not reduce the shares held by the issuer during the lock-up period.

(2) The way to reduce shareholdings

After the expiration of the lock-up period, if the Company/Company intends to reduce its shareholding in the issuer, it shall do so in accordance with the requirements of relevant laws and regulations and the rules of the Shanghai Stock Exchange, and shall not violate the commitments made by the Company/the Company, including but not limited to centralized bidding transactions in the secondary market, block transactions, transfer by agreement, etc.

and (3) the price at which the shares are reduced

The price at which the Company/Company reduces its holdings of the issuer's shares shall be determined according to the prevailing secondary market price, and shall comply with the requirements of relevant laws and regulations and the rules of the Shanghai Stock Exchange.

(4) The period for reducing shareholdings

After the expiration of the lock-up period (including the extended lock-up period) of the issuer's shares held by the company/the company, during the period when the number of shares of the issuer held by the company/the company accounts for not less than 5% of the total number of shares of the issuer, when the company/company reduces its holdings of the issuer's shares, it shall notify the issuer in writing in advance of the information such as the intention to reduce its holdings and the number of shares to be reduced, and the issuer shall make an announcement in a timely manner, and the company/company can reduce its holdings of the issuer's shares only after 3 trading days from the date of the issuer's announcement. It shall be completed within 6 months from the date of announcement, and the information disclosure obligations shall be fulfilled in a timely and accurate manner in accordance with the rules of the stock exchange.

(5) Comply with the relevant laws, regulations, rules and rules at that time

When the Company/Company reduces its shareholdings, the Company/the Company will also comply with the relevant laws, regulations, and rules that the Company/the Company shall comply with at that time, as well as the relevant regulations of the China Securities Regulatory Commission or the exchanges on which the issuer is listed on the reduction of shareholdings by shareholders.

(6) Strictly fulfill the above commitments

The company/company will strictly fulfill the above commitments, and if it fails to fulfill the above commitments, it will assume relevant responsibilities in accordance with the regulations of the China Securities Regulatory Commission and the stock exchange. ”

3. Jiang Qian and his concerted action person promised

Jiang Qian and his persons acting in concert hold more than 5% of the shares of the issuer in total, and the parties have issued the "Letter of Commitment on the Intention to Hold Shares and Shareholding Reduction Intentions of Tuojing Technology Co., Ltd. before the initial public offering and listing" of the issuer's shares, the main contents of which are as follows:

(1) Conditions for reducing shareholdings

I/the company will strictly follow the lock-up period requirements set out in the company's initial public offering prospectus and the commitments issued, and strictly abide by the relevant laws, regulations, normative documents and regulatory requirements, and will not reduce the shares held by the issuer during the lock-up period.

(2) The way to reduce shareholdings

After the expiration of the lock-up period, if I/the company intends to reduce the shares of the issuer, it shall be reduced in accordance with the relevant laws and regulations and the rules of the Shanghai Stock Exchange, and shall not violate the commitments made by me/the company, including but not limited to centralized bidding transactions in the secondary market, block transactions, transfer by agreement, etc.

and (3) the price at which the shares are reduced

The price at which I/the company reduces its holdings of the issuer's shares shall be determined according to the secondary market price at that time, and shall comply with the requirements of relevant laws and regulations and the rules of the Shanghai Stock Exchange.

(4) The period for reducing shareholdings

After the expiration of the lock-up period (including the extended lock-up period) of the issuer's shares held by me/the company, during the period when the number of shares of the issuer held by me/the company and Jiang Qian and their persons acting in concert with me accounts for not less than 5% of the total number of shares of the issuer, when I/the company reduces the shares of the issuer held by me/the company, the issuer shall notify the issuer in writing in advance of the intention to reduce the shareholding and the number of shares to be reduced, and the issuer shall make an announcement in a timely manner, and I/the company can reduce the shares of the issuer only after 3 trading days from the date of the issuer's announcement , within 6 months from the date of announcement, and in accordance with the rules of the stock exchange to fulfill the information disclosure obligations in a timely and accurate manner.

(5) Comply with the relevant laws, regulations, rules and rules at that time

When I/the company reduces my shareholdings, I/the company will also abide by the relevant laws, regulations, rules and regulations that I/the company should abide by at that time, as well as the relevant regulations of the China Securities Regulatory Commission or the exchange on which the issuer is listed on the reduction of shareholdings by shareholders.

(6) Strictly fulfill the above commitments

I/the company will strictly fulfill the above commitments, and if the above commitments are not fulfilled, we will bear relevant responsibilities in accordance with the regulations of the China Securities Regulatory Commission and the stock exchange. ”

Fourth, the restricted shares listed and circulated this time

(1) The number of shares in circulation in this listing is 124,480,525 shares, accounting for 44.5004% of the company's total share capital, and the restriction period is 36 months from the date of the company's initial public offering and listing on the Science and Technology Innovation Board.

(2) The date of this listing and circulation is April 21, 2025;

(3) A detailed list of restricted shares listed and circulated

Holding restricted shares Holding restricted shares This listing flow Remaining limit

Serial number Name of shareholder Number (shares) Accounting for the company's total number of shares (shares) Number of shares sold

Proportion of this amount (shares)

1 National Integrated Circuit Fund 55,026,693 19.6714% 55,026,693 0

2 SDIC Shanghai 37,888,000 13.5445% 37,888,000 0

3 Xinxin and 3,024,934 1.0814% 3,024,934 0

4 Xinxin 3,023,948 1.0810% 3,023,948 0

5 Xinxinlong 3,023,664 1.0809% 3,023,664 0

6 Xin Xincheng 3,023,200 1.0808% 3,023,200 0

7 Xinxinwang 3,023,159 1.0807% 3,023,159 0

8 Xin Xinsheng 3,022,150 1.0804% 3,022,150 0

9 Xin Xinyang 3,018,210 1.0790% 3,018,210 0

10 Shenyang Shengteng 1,724,940 0.6166% 1,724,940 0

11 Shenyang Shengwang 1,375,352 0.4917% 1,375,352 0

12 Shenyang Shengquan 520,110 0.1859% 520,110 0

13 Shenyang Shenglong 369,849 0.1322% 369,849 0

14 CHIANG CHIEN 2,703,588 0.9665% 2,703,588 0

15 Lv Guangquan 1,095,200 0.3915% 1,095,200 0

16 LIU YIJUN 613,312 0.2193% 613,312 0

17 LING FUHUA 558,552 0.1997% 558,552 0

18 CHANG HSIAO-YUNG 328,560 0.1175% 328,560 0

(Zhang Xiaoyong)

19 WU BIAO 383,320 0.1370% 383,320 0

20 ZHOU REN 383,320 0.1370% 383,320 0

21 SIAN CHE CYNTHIACHANG 350,464 0.1253% 350,464 0

(Zhang Xianzhi)

Total 124,480,525 44.5004% 124,480,525 0

Note: (1) The proportion of restricted shares held in the total share capital of the company shall be rounded to four decimal places; (2) If the total number does not match the sum of the sub-items, it is due to rounding; (3) According to Jiang Qian, Lv Guangquan and Zhang Xiaoyong's commitment on share lock-up: "Before the company realizes profits, within 3 full fiscal years from the date of listing of the issuer's shares, it will not transfer or entrust others to manage the pre-IPO shares held by the issuer, nor will it propose that the issuer repurchase such shares; Within the aforesaid three full fiscal years, after the issuer has achieved profitability, I may reduce my holdings of pre-IPO shares from the later of the day after the disclosure of the issuer's annual report for the current year and the expiration date of 36 months from the date of listing of the issuer's shares." Company in 2023

On April 18, the "2022 Annual Report" was released, and the company's 2022 annual results were profitable, so Jiang Qian, Lv Guangquan, and Zhang Xiao

The restricted shares of the company held by Yong are subject to a restriction period of 36 months from the date of listing, and the listing and circulation date of the shares held by Yong is April 2025

21st; (4) The number of shares held by the above shareholders is the company's shares after the conversion of capital reserve into share capital in the first half of 2023 and 2023

Quantity.

5. Verification opinions of intermediary agencies

After verification, the sponsor, China Merchants Securities Co., Ltd., believes that:

As of the date of issuance of this verification opinion, the shareholders of the restricted shares of the company in this listing and circulation have strictly fulfilled the corresponding share lock-up commitments. The number of restricted shares listed and circulated, the time of listing and circulation and other related matters comply with the requirements of relevant laws, regulations and normative documents such as the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for the Sponsorship Business of Securities Issuance and Listing, and the Listing Rules of the Science and Technology Innovation Board of the Shanghai Stock Exchange. The company's information disclosure on the listing and circulation of restricted shares is true, accurate and complete.

In summary, the sponsor has no objection to the listing and circulation of some of the restricted shares in the company's initial public offering.

6. Attachment to the online announcement

China Merchants Securities Co., Ltd.'s Verification Opinions on the Listing and Circulation of Some Restricted Shares in the Initial Public Offering of Tuojing Technology Co., Ltd.

The announcement is hereby made.

Board of Directors of Tuojing Technology Co., Ltd

April 12, 2025