Recently, a delegation headed by Wang Xinyue, deputy director of FinTech Industry Development Service Office of Financial and Shipping Service Department of Lujiazui Financial City Development Bureau and secretary general of Lujiazui Financial Technology Association, visited Powchan Financial Group Co., Ltd. ("Powchan" or the "Company"), an enterprise in which COSCO SHIPPING Development has participated, and had in-depth exchanges on the promotion of digital construction. Lin Shaojie, deputy director of Science and Technology of Langwoge Technology Company, a subsidiary of Powchan, and relevant persons in charge of the Information Technology Department, attended the meeting.

　　At the meeting, Langwoge Technology Company introduced the Company's development history, products and services, future development plans, and demonstrated the Company's core leasing system, innovative technology platform "Whale Speed Cloud", standardized archive system, automotive finance platform "Caribbean" system, low-code platform "Whale Intelligent Chain" financial business system, big data platform and other digital construction results. Both parties exchanged views on Langwoge joining the Lujiazui Financial Technology Association and unanimously expressed their expectation to cooperate in the fields of financial technology, project declaration, talent introduction and brand publicity at a deeper level and in a wider range of areas in the future, so as to promote mutual benefit and win-win situation for both sides.

　　Lujiazui Financial City Development Bureau is a public administration service agency that implements and coordinates public affairs in the Lujiazui Financial City area, and plays an important role in promoting the aggregation and cultivation of various high-level enterprises and headquarters that engage in finance, shipping and trading in the area. In the future, Langwoge will, by leveraging the power of the platform, actively participate in the work of the Shanghai Lujiazui Financial City Development Bureau to build the Lujiazui Fintech Highland, and will exert its technology empowerment to facilitate the high-quality development of Lujiazui Fintech.

　　Digital transformation is an integral part of the development strategy of Powchan. In order to further enhance the Company's supporting technology strength, we formally established Langwoge Technology (Shanghai) Co., Ltd. in the process of development in 2021. As the technology empowerment center of Powchan, Langwoge, on the one hand, has applied market-oriented management tools to establish an employment and incentive mechanism that is more suitable for the characteristics of science and technology companies, for matching the development demands of science and technology talents and accelerating the growth of independent science and technology research strength; on the other hand, Langwoge has leveraged its own capital, technology and other advantages to achieve resource sharing and complementary advantages, and continue to produce user-centered differentiated products and further empower the Company's digital transformation with technology, through the extension of the independent research and development space.