This report is from Securities Times"

Sponsor (lead underwriter): Guoyuan Securities Co.

　　(hereinafter referred to as "Yuanchen Technology", "Issuer" or "Company") for its initial public offering of RMB ordinary shares (A shares) and listing on the Science and Technology Venture Exchange (hereinafter referred to as "the Offering") has been approved by the Science and Technology Venture Exchange of the Shanghai Stock Exchange (hereinafter referred to as "SSE"). (hereinafter referred to as "the Offering") has been considered and approved by the Listing Committee of the Science and Technology Venture Board of the Shanghai Stock Exchange (hereinafter referred to as "SSE") and has been approved by the China Securities Regulatory Commission (hereinafter referred to as "CSRC"). (hereinafter referred to as "CSRC") and has been registered with the consent of the China Securities Regulatory Commission (hereinafter referred to as "CSRC") (CSRC License No. [2021] 553). The abbreviation of the issuer's stock is "Yuanchen Technology", the expanded abbreviation is "Yuanchen Technology", and the stock code is "688659". (hereinafter referred to as "Guoyuan Securities" or "Sponsor (Lead Underwriter)") is the sponsor of this issue.

　　The Offering will be conducted through a targeted placement to strategic investors (hereinafter referred to as "Strategic Placement"), an offline placement to qualified investors for quotation (hereinafter referred to as "Offline Offering"), and an online offering to public investors holding A shares and depositary receipts not subject to sale restrictions in the Shanghai market. The issuer and the sponsor (the main issuer) will be the first to offer the shares to the public. Based on the preliminary inquiry results, the issuer and the sponsor (lead underwriter) negotiated the issue price of RMB6.50 per share and the number of shares to be issued is 40 million, all new shares and no transfer of old shares, taking into account the issuer's fundamentals, its industry, market conditions, valuation level of listed companies in the same industry, fund raising requirements and underwriting risks.

　　The initial number of strategic allotment is 2 million shares, accounting for 5% of the total issue size, and all the subscription funds committed by strategic investors have been remitted to the bank account designated by the sponsor (lead underwriter) within the prescribed time. The final strategic placement quantity determined based on the issue price is 2 million shares, accounting for 5% of the total issue size, which is the same as the initial strategic placement quantity.

　　Before the start of the online and offline callback mechanism, the initial number of offline issue is 26.6 million shares, accounting for 70% of the issue quantity after deducting the final strategic placement quantity; the initial number of online issue is 11.4 million shares, accounting for 30% of the issue quantity after deducting the final strategic placement quantity.

　　According to the "Announcement of Issuance Arrangement and Initial Quotation for Initial Public Offering of Shares and Listing on the Science and Technology Venture Board of Anhui Yuanchen Environmental Protection Technology Co. (the "Offering Announcement"), the issuer and the sponsor (the lead underwriter) decided to activate the call-back mechanism to adjust the size of the offline and online offerings by deducting 10% (rounded upwards to the nearest 10%) of the number of shares in the public offering after deducting the final strategic placement portion, due to the online initial effective subscription multiple of 4,485.24 times, which is higher than 100 times. 10% of the number of shares in the public offering (rounded up to the nearest 500 shares, i.e. 3.8 million shares) will be reallocated from offline to online. After the activation of the reallocation mechanism, the final number of shares issued offline was 22.8 million, accounting for 60% of the number of shares issued after deducting the final number of strategic placements and 57% of the total number of shares issued; the final number of shares issued online was 15.2 million, accounting for 40% of the number of shares issued after deducting the final number of strategic placements and 38% of the total number of shares issued. After the activation of the reversal mechanism, the final winning rate of the online issue was 0.02972716%.

　　The payment of online and offline subscriptions for this issue has ended on March 24, 2021 (T+2).