Ke Hua Data establishes special fund account for convertible bond proceeds

Ke Hua Data Co., Ltd. (Ke Hua Data) has established a special account for its raised funds and signed a tripartite supervision agreement, as announced on September 4, 2025. This action follows the China Securities Regulatory Commission's approval for Ke Hua Data to issue convertible corporate bonds to specific investors. The company successfully issued 14,920,680 convertible bonds, raising a total of 1,492,068,000.00 yuan. After deducting issuance expenses, the net raised funds amounted to 1,480,663,200.00 yuan, which were fully received by August 29, 2023.

The special fund account was opened at China Construction Bank Corporation, Xiamen Hubin Sub-branch. As of September 2, 2025, the account balance was 0.00 yuan. The account is exclusively for the storage and use of idle funds from the 2023 convertible bond issuance to supplement working capital and is not permitted for other purposes. Guofa Securities Co., Ltd. has been appointed as the sponsor institution.

The tripartite supervision agreement, signed by Ke Hua Data, China Construction Bank, and Guofa Securities, ensures the proper management and oversight of the raised funds, protecting the interests of the company and its investors.