Highlights of the Interim Results for the Six Months Ended June 30, 2023:

• The rapid development of AI has accelerated demand for chips. The Group's AI orders also showed an upward trend, with a total revenue of RMB3,863.5 million during the Period.
• In the first half of 2023, gross profit recorded approximately RMB482.4 million, net profit was approximately RMB168.1 million, and profit attributable to equity shareholders of the Company was approximately RMB92.5 million.
• During the Period, Shenzhen Comtech submitted relevant information to the Shenzhen Stock Exchange, which will help further enhance its brand influence and popularity in the industry, as it continues to cultivate the chip market, and provides in-depth services to customers in the industry chain upstream and downstream.
• Ingdan focuses on the new energy smart battery cloud business with emphasis on two-wheeler battery cloud services, in order to seize the RMB 100 billion ''blue ocean'' market opportunity, which would enable the Group to sustain profitability.

HONG KONG SAR - Media OutReach - 31 August 2023 - Ingdan, Inc. ("Ingdan, Inc." or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), formerly known as "Cogobuy Group", a technology service company focusing on serving global chip industry and artificial intelligence ("AI") and Internet of Things ("IoT", together "AIoT") ecosystem, with its core businesses "Comtech" and "Ingdan", is pleased to announce its unaudited interim results for the six months ended June 30, 2023 (the "first half of 2023" or the "Period"). Financial Highlights of the First Half of 2023 As of June 30, 2023, the Group recorded a total revenue of approximately RMB3,863.5 million, a YoY decrease of 17.8%; net profit was approximately RMB168.1 million, a YoY decrease of 20.7%; gross profit was approximately RMB482.4 million, a YoY increase of 13.7%. In the first half of 2023, the rapid development of AI technologies has driven the digitalization of various industries, resulting in an increase in demand for chips. Accordingly, the Group's AI demands have increased. However, as affected by suppliers' production capacity, there was a supply shortage of AI chips and the delivery of orders has been deferred to the second half of the year. Coupled with the slowdown in the growth of demand for chips in the consumer electronics category, the overall sales dropped. On the other hand, with profits increasing at a compound annual growth rate (CAGR) of approximately 46.1% from 2019 to 2022, the Group's results for the corresponding period of the prior year grew at a record high. Therefore, as the market demand returns to normal industry level from last year's chips shortage, the Company's profit has declined as compared with the same period last year. During the Period, the Group's profit attributable to equity shareholders of the Company was RMB92.5million. The Group's cash and bank balances (including short-term bank deposits and pledged deposits) was RMB1,048.7 million. The Group's bank loans were RMB1,818.8 million, book value of inventories was RMB5,055.2 million, and inventories net of rebates were RMB1,020.8 million. The basic common shares outstanding were 1,394,262,732, and the weighted average number of ordinary shares for the purpose of diluted earnings per share were 1,371,063,000. Comtech Captured the Demand of AI Chips In the first half of 2023, the popularity of Generative AI such as ChatGPT has once again driven the AI boom. The thriving AI market trend in China has driven the growth in demand for AI orders from Comtech. However, due to the impact of supply shortage, the inventory of AI chips was insufficient to fulfill the large number of orders, resulted in the delay of deliveries to the second half of the year and the sales volume was affected accordingly. According to forecasts by World Semiconductor Trade Statistics Association, global annual semiconductor sales will decline by 10.3% in 2023 but are expected to grow by 11.8% in 2024 by virtue of a strong recovery.^[1] As a technology service platform for the chip industry, Comtech focuses on the application, design, and distribution of IC chips. It covers over 50% of global major high-end chip suppliers and many leading domestic chip makers upstream, as well as tens of thousands of enterprises in five major fields downstream, including smart vehicles, digital infrastructure, industrial interconnection, energy control and big consumption. With the gradual recovery of the domestic economy, the continuous development of the technology industry, and favorable national policies, the outlook for China's semiconductor industry is optimistic, as it meets increasing demand for chips and brings more growth momentum to the chip business. Comtech continued to actively push for the development of chips applications during the Period, and has achieved technological breakthroughs in cutting-edge technological features in the...