Chapter 1: Definitions
In this independent financial advisor report, unless otherwise specified, the following terms have the meanings ascribed to them:
| Term | Definition |
|---|---|
| Xiechuang Data, the Company, Listed Company | Refers to Xiechuang Data Technology Co., Ltd. |
| This Incentive Plan | Refers to the 2023 Restricted Stock Incentive Plan of Xiechuang Data Technology Co., Ltd. |
| This Independent Financial Advisor Report | Refers to the report titled "Independent Financial Advisor Report of Dongfang Caifu Securities Co., Ltd. on the Achievement of Vesting Conditions for the Third Vesting Period of the Initial Grant and the Second Vesting Period of Reserved Grants under Xiechuang Data Technology Co., Ltd.'s 2023 Restricted Stock Incentive Plan." |
| Independent Financial Advisor, This Independent Financial Advisor | Refers to Dongfang Caifu Securities Co., Ltd. |
| Restricted Stock | Refers to the company's stock granted to incentive objects that meet the conditions of this incentive plan, which will be obtained and registered in stages upon meeting the corresponding benefit conditions. |
| Incentive Object | Refers to the directors, senior management, and core business/technical personnel of the company (including subsidiaries) who receive restricted stock according to the provisions of this incentive plan. |
| Grant Date | Refers to the date on which the company grants restricted stock to the incentive objects, which must be a trading day. |
| Grant Price | Refers to the price determined by the company at which the incentive objects obtain the company's shares when granted restricted stock. |
| Vesting | Refers to the act of the listed company registering the stock to the incentive object's account after the incentive object meets the benefit conditions. |
| Vesting Conditions | Refers to the benefit conditions that the incentive objects must meet to obtain the target stock as established by this incentive plan. |
| CSRC | Refers to the China Securities Regulatory Commission. |
| Stock Exchange | Refers to the Shenzhen Stock Exchange. |
| Company Law | Refers to the Company Law of the People's Republic of China. |
| Securities Law | Refers to the Securities Law of the People's Republic of China. |
| Management Measures | Refers to the Management Measures for Equity Incentives of Listed Companies. |
| Listing Rules | Refers to the Listing Rules for Growth Enterprise Market Stocks of the Shenzhen Stock Exchange. |
| Self-Regulatory Guidelines | Refers to the Self-Regulatory Guidelines No. 1 for Business Handling of Growth Enterprise Market Listed Companies of the Shenzhen Stock Exchange. |
| Articles of Association | Refers to the Articles of Association of Xiechuang Data Technology Co., Ltd. |
| RMB/Billion | Refers to the legal currency unit of the People's Republic of China. |
Chapter 2: Statement
Dongfang Caifu Securities Co., Ltd. has been entrusted to act as the independent financial advisor for Xiechuang Data Technology Co., Ltd.'s 2023 Restricted Stock Incentive Plan and to prepare this independent financial advisor report. This report is based on the relevant provisions of the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Management Measures for Equity Incentives of Listed Companies, and other laws, regulations, and normative documents, and is issued based on the information provided by Xiechuang Data for the reference of all shareholders and relevant parties.