Financial Report and Audit Report of Shenzhen JWIPC Technology Co., Ltd. for the Most Recent Year and the Most Recent Period

Table of Contents

I. Audit Report: Page 1–5

II. Financial Statements: Page 6–13

1. Consolidated Balance Sheet: Page 6

2. Parent Company Balance Sheet: Page 7

3. Consolidated Income Statement: Page 8

4. Parent Company Income Statement: Page 9

5. Consolidated Cash Flow Statement: Page 10

6. Parent Company Cash Flow Statement: Page 11

7. Consolidated Statement of Changes in Equity: Page 12

8. Parent Company Statement of Changes in Equity: Page 13

III. Notes to Financial Statements: Page 14–101

IV. Attachments: Page 102–105

1. Copy of Practice License: Page 102

2. Copy of Business License: Page 103

3. Copy of Certified Public Accountant Practice Certificate: Page 104–105

Audit Report

Tian Jian Shen [2026] No. 3-166

To the Shareholders of Shenzhen JWIPC Technology Co., Ltd.:

I. Audit Opinion

We have audited the financial statements of Shenzhen JWIPC Technology Co., Ltd. (hereinafter referred to as "JWIPC"), which comprise the consolidated and parent company balance sheets as of December 31, 2025, the 2025 consolidated and parent company income statements, the consolidated and parent company cash flow statements, the consolidated and parent company statements of changes in equity, and the notes to the financial statements.

In our opinion, the accompanying financial statements present fairly, in all material respects, the consolidated and parent company financial position of JWIPC as of December 31, 2025, and its consolidated and parent company operating results and cash flows for the year 2025 in accordance with the Accounting Standards for Business Enterprises.

II. Basis for Audit Opinion

We conducted our audit in accordance with the Auditing Standards for Certified Public Accountants of China. Our responsibilities under these standards are further described in the "Responsibilities of Certified Public Accountants for the Audit of Financial Statements" section of the audit report. In accordance with the Code of Ethics for Certified Public Accountants of China and the independence requirements for audit and review engagements, we are independent of JWIPC and have fulfilled our other ethical responsibilities. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

III. Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements for the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, we do not provide a separate opinion on these matters.

(I) Revenue Recognition

1. Matter Description

For relevant information disclosure, please refer to Notes III (24), V (1), and XV to the financial statements.

The operating revenue of JWIPC is mainly derived from the research, development, production, sales, and service of industry terminals, ICT infrastructure, and Industrial Internet of Things (IIoT) hardware products and solutions, as well as providing end-to-end computing center full-process integrated services to customers. In 2025, JWIPC's operating revenue was RMB 4,086,757,920.43, accounting for 89.19% of operating revenue.

Since operating revenue is one of JWIPC's key performance indicators, there is an inherent risk that management (hereinafter referred to as "Management") may recognize revenue inappropriately to achieve specific targets or expectations. Therefore, we have identified revenue recognition as a key audit matter.

1. Audit Response

Our audit procedures for revenue recognition mainly included: