Highlights of the Annual Results for the Year Ended December 31, 2022:

• The continuous acceleration of the development of new economy industries, such as AI, Smart Vehicles, and New Energy, has propelled the surge in demand for Chips. The Group's chip business also maintained a growth momentum, with a total revenue was RMB9,535.5 million, representing a year-on-year increase of 0.9% during the Year.
• In 2022, gross profit recorded a year-on-year increase of 19.3% to RMB1,113.3 million, net profit was approximately RMB452.4 million, a year-on-year increase of 9.7% and profit attributable to equity shareholders of the Company was approximately RMB314.4 million, representing a year-on-year increase of 6.2%.
• The Shenzhen Stock Exchange confirmed Comtech's application for an A Share Listing on the ChiNext Board with the application process progressing steadily. This is expected to bolster the Group's share in the domestic capital and chip markets.
• During the Year, Comtech has been granted credit facilities by 15 prominent banks in China and Hong Kong to support the Group's long-term chip business development.
• Ingdan focuses on new energy smart batteries, which will drive the development of the "Ingdan Cloud" big data service.
• To reciprocate the sustained support of our shareholders, the Board has proposed a final dividend of HK$0.04 per share.

HONG KONG SAR - Media OutReach - 31 March 2023 - Ingdan, Inc. ("Ingdan,Inc." or the "Company", stock code: 400.HK; with its subsidiaries (the ''Group'')), formerly known as "Cogobuy Group", a technology services company serving the global chip industry and artificial intelligence ("AI") & internet of things ("IoT", together "AIoT") ecosystem, with its core businesses "Comtech" and "Ingdan", is pleased to announce its audited consolidated results for the Year ended December 31, 2022 ("2022" or the "Year"). Financial Highlights of the Full Year of 2022 In 2022, the rapid innovation of artificial intelligence ("AI") drove the digitalization of industries at a high pace, leading to a further increase in the demand for chips. With surging growth in new economy industries such as Smart Vehicles, New Energy and Digital Infrastructure, demand for the Group's industrial chips was particularly strong, thus driving the Group's overall performance and maintaining its growth momentum. As of 31 December, 2022, the Group's net profit was approximately RMB452.4 million, a YoY increase of 9.7%; revenue was approximately RMB9,535.5 million, a YoY increase of 0.9%; gross profit was approximately RMB1,113.3 million, a YoY increase of 19.3%. During the Year, the Group's profit attributable to equity shareholders of the Company was RMB314.4 million, a YoY increase of 6.2%. The Company's cash and bank balances (including short-term bank deposits and pledged deposits) was RMB867.0 million. The Group's bank loans were RMB888.1 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 1,405,370,000. To reciprocate the sustained support of our shareholders, the Board proposed a final dividend of HK$0.04 per share. Continued Growth in Chip Business; Comtech Focuses on New Economy Industries According to the latest data released by the Semiconductor Industry Association, China remained its position as the largest individual market for semiconductors, with a total sales of US$180.4 billion in 2022.^[1] With the country's development of semiconductors at a national strategic level, numerous policies have been issued to support the chip industry, creating a favorable environment and significant opportunities for Comtech's development and also promoting constant growth of chip business. As a technology service platform for the chip industry, Comtech focuses on the application, design, and distribution of IC chips, maintaining connections with over 50% of global major high-end chip suppliers and many leading domestic chip makers upstream and covering thousands of enterprises in five key sectors: Smart Vehicles, Digital Infrastructure, Industrial Connectivity, Energy Control and Big Consumption downstream. With the rapid rise of new economy industries and continuing expansion of the AIoT market, chips are the main driving force for supporting widespread digital transformation. The demand for chips is expected to further accelerate, and enabling the Group's chip business to continue to grow. By leveraging its expertise and industrial resources, Comtech has been at the forefront of the new economy. The Group has successfully combined digital technology with traditional industries through chip applications, resulting a significant enhancement of its customers' computing capabilities and stability, while reducing costs and increase efficiency. The Group's chip application solutions are also empowering the trillion-RMB AIoT smart hardware market, making new...