The board of the IBO Technology Company Limited announced that, on 23 January 2022, Shenzhen IBO Electronics Company Limited (IBO Electronics), a subsidiary of the Company, and Guangxi Hongyingda Electronics Technology Co. Ltd., subject to the principle of equality and mutual benefit, entered into a sales and purchase contract in respect of the purchase of 14-inch domestically-produced notebook computers, all-in-one computers, and mini-host computer products by Guangxi Hongyingda Electronic from IBO Electronics, as well as related matters, following friendly negotiation in accordance with the relevant laws and regulations. Guangxi Hongyingda Electronics shall purchase 10,050 domestically-produced 14-inch GK140 notebook computers, as well as a total of 150 24-inch all-in-one computers and M1 mini-host computers from IBO Electronics at a total consideration of RMB 51.805 million.

The warranty period of the products as contained in this Contract lasts one (1) year, and IBO Electronics will provide lifetime technical services for the products to Guangxi Hongyingda Electronics.