Dabeinong finalizes agreement for raised funds account

Beijing Dabeinong Technology Group announced the signing of a tripartite supervisory agreement for its special deposit account, following a private placement that raised RMB699,999,998.22. After deducting issuance expenses of RMB7,394,480.36, the net raised capital amounts to RMB692,605,517.86. The funds were transferred to the company's designated account on July 26, 2024, and verified by an audit.

The company's sixth board of directors, at its sixteenth (interim) meeting on June 18, 2024, approved the establishment of the dedicated account. Additionally, the sixth board of directors and the nineteenth (interim) meeting of the supervisory board, both held on October 21, 2025, approved the temporary use of up to RMB100,000,000 of idle raised funds for working capital for a period not exceeding 12 months.

The special deposit account is with China Construction Bank Beijing Huairou Branch, designated for the storage and use of idle raised funds to supplement working capital. The agreement, signed with the custodian bank and the sponsor institution, outlines strict regulations for the account's use, prohibiting its application for any other purpose and mandating regular oversight by the sponsor.