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Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “Stock Exchange ”)
and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no responsibility for the contents of this
announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability
whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or into the United States
(including its territories and possessions, any state of the United States and the District of Columbia). This
announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities
in the United States or in any other jurisdictions. The securities mentioned herein have not been, and will not be,
registered under the United States Securities Act of 1933 as amended from time to time (the “U.S. Securities Act ”) or
securities law of any state or other jurisdiction of the United States. The securities may not be offered, sold, pledged
or otherwise transferred within the United States except pursuant to an exemption from the registration requirements
of the U.S. Securities Act and in compliance with any applicable state securities laws. The securities are being offered
and sold outside the United States in offshore transactions in accordance with Regulation S under the U.S. Securities
Act. There will be no public offer of securities in the United States.
This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase
or subscribe for securities. This announcement is not a prospectus. Potential investors should read the prospectus dated
May 18, 2026 (the “Prospectus ”) issued by Beijing DeepZero Technology Co., Ltd. (ʮ
̡) (the “Company ”) for detailed information about the Global Offering described below before deciding whether or
not to invest in the H Shares thereby being offered. Any investment decision in relation to the Offer Shares should be
taken solely in reliance on the information in the Prospectus.
Unless otherwise defined in this announcement, capitalized terms used herein shall have the same meanings as those
defined in the Prospectus.
Potential investors of the Offer Shares should note that the Sponsor-Overall Coordinator (for itself and on behalf
of the Hong Kong Underwriters) shall be entitled to terminate their obligations under the Hong Kong Underwriting
Agreement with immediate effect upon the occurrence of any of the events set out in the section headed “Underwriting –
Underwriting Arrangements and Expenses – Hong Kong Public Offering – Grounds for Termination ” in the Prospectus
at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently expected to be on Wednesday,
May 27, 2026).


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Beijing DeepZero Technology Co., Ltd.
ʮ̡
(A joint stock company incorporated in the People ’s Republic of China with limited liability)
GLOBAL OFFERING
Number of Offer Shares under the Global
Offering
: 9,068,000 H Shares
Number of Hong Kong Offer Shares : 906,800 H Shares
Number of International Offer Shares : 8,161,200 H Shares
Final Offer Price : HK$55.50 per H Share, plus brokerage of
1.0%, SFC transaction levy of 0.0027%,
Stock Exchange trading fee of 0.00565% and
AFRC transaction levy of 0.00015%
Nominal Value : RMB1.00 per H Share
Stock Code : 2723
Sole Sponsor, Sponsor-Overall Coordinator, Joint Global Coordinator,
Joint Bookrunner and Joint Lead Manager
Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
Joint Bookrunners and Joint Lead Managers


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Beijing DeepZero Technology Co., Ltd.
ʮ̡
ANNOUNCEMENT OF FINAL OFFER PRICE AND ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the same
meanings as those defined in the prospectus dated May 18, 2026 (the “Prospectus ”) issued by
Beijing DeepZero Technology Co., Ltd. (ʮ̡ ) (the “Company ”).
SUMMARY
Company information
Stock code 2723
Stock short name DEEPZERO
Dealings commencement date May 27, 2026*
* see note at the end of the announcement
Price Information
Final Offer Price HK$55.50
Offer Price Range HK$43.50 - HK$55.50
Offer Shares and Share Capital
Number of Offer Shares 9,068,000
Number of Offer Shares in Hong Kong Public Offering 906,800
Number of Offer Shares in International Offering 8,161,200
Number of issued Shares upon Listing 90,679,175
Proceeds
Gross proceeds (Note) HK$503.3 million
 Less: Estimated listing expenses payable based on Offer Price HK$(38.2) million
Net proceeds HK$465.1 million
Note:  Gross proceeds refers to the amount to which the issuer is entitled to receive. For details of the use of
proceeds, please refer to the section headed “Future Plans and Use of Proceeds ” of the Prospectus.


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ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 232,456
Number of successful applications 9,068
Subscription level 5,480.23 times
Number of Offer Shares initially available under the Hong Kong Public
Offering 906,800
Final number of Offer Shares under the Hong Kong Public Offering 906,800
Reallocation No
% of final number of Offer Shares under the Hong Kong Public Offering
to the Global Offering 10.00%
Note: For details of the final allocation of Shares to the Hong Kong Public Offering, investors can refer to
www.eipo.com.hk/eIPOAllotment  to perform a search by identification number or www.eipo.com.hk/eIPOAllotment
for the full list of allottees.
INTERNATIONAL OFFERING
No. of placees 78
Subscription Level 3.41 times
No. of Offer Shares initially available under the International Offering 8,161,200
Final no. of Offer Shares under the International Offering 8,161,200
% of final number of Offer Shares under the International Offering to
the Global Offering 90.00%
The Directors confirm that, to the best of their knowledge, information and belief, save for a
consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide to permit
the Company to allocate certain Offer Shares in the International Offering to a connected client,
(i) none of the Offer Shares subscribed by the placees and the public have been financed directly
or indirectly by the Company, any of the Directors, chief executive of the Company, Controlling
Shareholders, substantial shareholders, existing shareholders of the Company or any of its
subsidiaries or their respective close associates; and (ii) none of the placees and the public who
have purchased the Offer Shares are accustomed to taking instructions from the Company, any of
the Directors, chief executive of the Company, Controlling Shareholders, substantial shareholders,
existing shareholders of the Company or any of its subsidiaries or their respective close associates
in relation to the acquisition, disposal, voting or other disposition of Shares registered in his/her/its
name or otherwise held by him/her/it.


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The placees in the International Offering include the following:
Allottee with waivers/consents obtained
Investor
No. of Offer
Shares
allocated
% of total
Offer Share
% of total
issued
Shares after
the Global
Offering Relationship
Allotee with consent under paragraph 1C(1) of the Appendix F1 to the Listing Rules (the
“Placing Guidelines ”) and Chapter 4.15 of the Guide in relation to allocation to connected
client (Note)
CITIC Securities
International Capital
Management Limited
(“CSICM ”) 39,200 0.40% 0.00% Connected client
Note: For details of the consent under paragraph 1C(1) of the Placing Guidelines and Chapter 4.15 of the Guide in
relation to allocation to connected client, please refer to the section headed “Others/Additional Information – Placing
to connected client with a prior consent under paragraph 1C(1) of the Placing Guidelines ” in this announcement.
LOCK-UP UNDERTAKINGS
Controlling Shareholders
Name
Number of H
Shares held in
the Company
subject to lock-up
undertakings upon
Listing
% of total
issued Shares
in the Company
subject to lock-up
undertakings upon
Listing
Last day subject
to the lock-up
undertakings (Note)
Huang Xiaonan 17,102,230 18.86% May 26, 2027
Xie Peng 12,051,502 13.29% May 26, 2027
Total 29,153,732 32.15%
Note:
1. The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law. The
required lock-up for the Controlling Shareholders ends on May 26, 2027, being one year following the Listing
Date. Pursuant to Rule 10.07 of the Listing Rules, each of the Controlling Shareholders has undertaken to the
Stock Exchange and the Company that, he or she shall comply with the applicable lock-up requirements. For
further details, please refer to the section headed “Underwriting – Undertakings to the Stock Exchange Pursuant
to the Listing Rules – Undertakings by our Controlling Shareholders ” in the Prospectus.


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2. Pursuant to an acting-in-concert agreement dated July 13, 2016, entered into between Ms. Huang Xiaonan
and Mr. Xie Peng (each a “Concert Party ” and collectively, the “Concert Parties ”), they have agreed to to,
for so long as they are Shareholders of our Company, communicate thoroughly to reach a consensus as to
how to exercise their voting rights in our Company and act in concert by aligning their votes at the relevant
shareholders ’ meetings. In the event that they could not reach a consensus as to how to exercise their voting
rights, Mr. Xie agreed to follow the directions of Ms. Huang. (the “AIC Agreement ”).
As a result of the AIC Agreement, immediately after the completion of the Global Offering, the Concert Parties
will be collectively entitled to exercise control over approximately 32.15% of the voting rights in our Company,
and therefore will remain as a group of Controlling Shareholders of our Company.
For details of the background of the Controlling Shareholders, please refer to the section headed “Relationship
with our Controlling Shareholders – Our Controlling Shareholders ” in the Prospectus.
Other existing Shareholders (including the Pre-IPO Investors as defined in the “History,
Development and Corporate Structure ” section of the Prospectus)
Name
Number of H
Shares held in
the Company
subject to
lock-up
undertakings
upon Listing
% of total
issued Shares
after the Global
Offering subject
to lock-up
undertakings
upon Listing
Last day
subject to
the lock-up
undertakings
(Note)
Beijing Heyin Investment Center
(Limited Partnership) (ҳ༟
ʕː(Υྫ )) 11,455,282 12.63% May 26, 2027
China Mobile Innovative Business
Fund (Shenzhen) Partnership (Limited
Partnership) (ږ( ଉ
έ)ΥྫΆุ (Υྫ )) 8,911,265 9.83% May 26, 2027
Shanghai Forward Maoshang
Investment Partnership (Limited
Partnership) ( ɪऎబᅃᏔሧҳ༟Υྫ
Άุ(Υྫ )) 8,372,938 9.23% May 26, 2027
Shanghai Maoyao Investment
Partnership (Limited Partnership) ( ɪ
ऎᏔᘴҳ༟ΥྫΆุ (Υྫ )) 7,405,007 8.17% May 26, 2027
Shen Xuehua ( ӏኪശ) 3,536,423 3.90% May 26, 2027


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Name
Number of H
Shares held in
the Company
subject to
lock-up
undertakings
upon Listing
% of total
issued Shares
after the Global
Offering subject
to lock-up
undertakings
upon Listing
Last day
subject to
the lock-up
undertakings
(Note)
Beijing BGWG Venture Capital Center
(Limited Partnership) ( ̏ԯ̹̏ᄿ˖
༟ဂശ௴ุҳ༟ʕː (Υྫ )) 2,817,549 3.11% May 26, 2027
Beihai Qidian Yihao Venture Capital
Partnership (Limited Partnership) ( ̏
ऎৎᓃఠ໮௴ุҳ༟ΥྫΆุ (ࠢ
Υྫ)) 2,650,177 2.92% May 26, 2027
Shanghai Zhencheng Investment
Center (Limited Partnership) (ࣈ
༐ҳ༟ʕː (Υྫ )) 2,253,889 2.49% May 26, 2027
Huang Jicheng (ו1,717,370 1.89% May 26, 2027
Liu Chunru (ন) 1,054,018 1.16% May 26, 2027
Hongtu Chengzhang Venture Capital
Co., Ltd. (ʮ
̡) 918,018 1.01% May 26, 2027
Shenzhen Capital Group Co., Ltd. ( ଉ
ʮ̡ ) 918,018 1.01% May 26, 2027
Zhang Wei ( ੵ⑸) 263,504 0.29% May 26, 2027
Qu Zhe (ࡪ183,985 0.20% May 26, 2027
Total 52,457,443 57.85%
Note: The expiry date of the lock-up period shown in the table above is pursuant to the PRC Company Law. The
required lock-up for all existing Shareholders ends on May 26, 2027 , being one year following the Listing Date.


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PLACEE CONCENTRATION ANALYSIS
Placees(Note)
Number of
H Shares
Allocated
Allotment as
to % of the
International
Offering
Allotment as to
% of the total
Offer Shares
Number of H
Shares held
upon Listing
Number of H Shares
held upon Listing as
% of total issued share
capital upon Listing
Top 1 1,361,700 16.69% 15.02% 1,361,700 1.50%
Top 5 3,555,300 43.56% 39.21% 3,555,300 3.92%
Top 10 5,392,300 66.07% 59.47% 5,392,300 5.95%
Top 25 7,471,100 91.54% 82.39% 7,471,100 8.24%
Note: Ranking of placees is based on the number of H Shares allotted to the placees.
H SHAREHOLDERS CONCENTRATION ANALYSIS
H Shareholders (Note 1)
Number of
H Shares
Allocated
Allotment as
to % of the
International
Offering
Allotment as to
% of the total
Offer Shares
Number of H
Shares Held
Upon Listing
Number of
H Shares
held upon
Listing as %
of total issued
H share capital
upon Listing
Number of
Shares held
upon Listing
Top 1(Note 2) 0 0.00% 0.00% 29,153,732 32.15% 29,153,732
Top 5 0 0.00% 0.00% 71,915,700 79.31% 71,915,700
Top 10 1,361,700 16.69% 15.02% 81,734,872 90.14% 81,734,872
Top 25 6,373,000 78.09% 70.28% 87,800,190 96.83% 87,800,190
Notes:
1. Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
2. Refers to the group of Controlling Shareholders. Please see lock-up undertakings of the Controlling Shareholders
above for details.
SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders (note 1)
Number of
H Shares
Allocated
Allotment
as % of
International
Offering
Allotment
as % of
total Offer
Shares
Number of
H Shares
held upon
Listing
Number
of Shares
held upon
Listing
% of total
issued share
capital upon
Listing
Top 1(Note 2) 0 0.00% 0.00% 29,153,732 29,153,732 32.15%
Top 5 0 0.00% 0.00% 71,915,700 71,915,700 79.31%
Top 10 1,361,700 16.69% 15.02% 81,734,872 81,734,872 90.14%
Top 25 6,373,000 78.09% 70.28% 87,800,190 87,800,190 96.83%
Notes:
1. Ranking of H Shareholders is based on the number of H Shares held by the H Shareholders upon Listing.
2. Refers to the group of Controlling Shareholders. Please see lock-up undertakings of the Controlling Shareholders.


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BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made by
the public will be conditionally allocated on the basis set out below:
NO. OF H
SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL NO. OF
H SHARES
APPLIED FOR
POOL A
100 98,305 983 out of 98,305 to receive 100 H Shares 1.00%
200 12,852 131 out of 12,852 to receive 100 H Shares 0.51%
300 7,255 75 out of 7,255 to receive 100 H Shares 0.34%
400 4,562 48 out of 4,562 to receive 100 H Shares 0.26%
500 5,238 56 out of 5,238 to receive 100 H Shares 0.21%
600 2,968 32 out of 2,968 to receive 100 H Shares 0.18%
700 1,790 20 out of 1,790 to receive 100 H Shares 0.16%
800 10,104 113 out of 10,104 to receive 100 H Shares 0.14%
900 2,022 23 out of 2,022 to receive 100 H Shares 0.13%
1,000 10,499 121 out of 10,499 to receive 100 H Shares 0.12%
1,500 5,702 71 out of 5,702 to receive 100 H Shares 0.08%
2,000 4,404 59 out of 4,404 to receive 100 H Shares 0.07%
2,500 2,278 32 out of 2,278 to receive 100 H Shares 0.06%
3,000 2,631 40 out of 2,631 to receive 100 H Shares 0.05%
3,500 1,773 28 out of 1,773 to receive 100 H Shares 0.05%
4,000 1,751 29 out of 1,751 to receive 100 H Shares 0.04%
4,500 1,108 20 out of 1,108 to receive 100 H Shares 0.04%
5,000 2,662 49 out of 2,662 to receive 100 H Shares 0.04%
6,000 1,825 37 out of 1,825 to receive 100 H Shares 0.03%
7,000 1,394 31 out of 1,394 to receive 100 H Shares 0.03%
8,000 1,411 33 out of 1,411 to receive 100 H Shares 0.03%
9,000 1,267 32 out of 1,267 to receive 100 H Shares 0.03%
10,000 5,202 141 out of 5,202 to receive 100 H Shares 0.03%
15,000 3,445 123 out of 3,445 to receive 100 H Shares 0.02%
20,000 3,400 151 out of 3,400 to receive 100 H Shares 0.02%
25,000 2,146 114 out of 2,146 to receive 100 H Shares 0.02%
30,000 2,176 135 out of 2,176 to receive 100 H Shares 0.02%
35,000 1,645 116 out of 1,645 to receive 100 H Shares 0.02%
40,000 1,462 116 out of 1,462 to receive 100 H Shares 0.02%
45,000 994 87 out of 994 to receive 100 H Shares 0.02%
50,000 2,308 223 out of 2,308 to receive 100 H Shares 0.02%
60,000 1,685 192 out of 1,685 to receive 100 H Shares 0.02%
70,000 1,366 179 out of 1,366 to receive 100 H Shares 0.02%
80,000 1,603 238 out of 1,603 to receive 100 H Shares 0.02%
90,000 3,953 656 out of 3,953 to receive 100 H Shares 0.02%
Total 215,186 Total number of Pool A successful applicants: 4,534


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NO. OF H
SHARES
APPLIED FOR
NO. OF VALID
APPLICATIONS BASIS OF ALLOTMENT/BALLOT
APPROXIMATE
PERCENTAGE
ALLOTTED OF
THE TOTAL NO. OF
H SHARES
APPLIED FOR
POOL B
100,000 8,071 1,957 out of 8,071 to receive 100 H Shares 0.02%
150,000 2,180 549 out of 2,180 to receive 100 H Shares 0.02%
200,000 1,492 390 out of 1,492 to receive 100 H Shares 0.01%
250,000 847 229 out of 847 to receive 100 H Shares 0.01%
300,000 758 212 out of 758 to receive 100 H Shares 0.01%
350,000 500 145 out of 500 to receive 100 H Shares 0.01%
400,000 460 137 out of 460 to receive 100 H Shares 0.01%
453,400 2,962 915 out of 2,962 to receive 100 H Shares 0.01%
17,270 Total number of Pool B successful applicants: 4,534
As of the date of this announcement, the relevant subscription monies previously deposited in the
designated nominee accounts have been remitted back to the accounts of all HKSCC participants.
Investors should contact their relevant brokers for any inquiries.
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the Listing Rules that have been waived and/or in respect of
which consent has been obtained, the Company has complied with the Listing Rules and guidance
materials in relation to the placing, allotment and listing of the H Shares.
The Directors confirm that, to the best of their knowledge, no rebate has been, directly or
indirectly, provided by the Company, its Controlling Shareholders, Directors or syndicate members
to any placees or the public (as the case may be) and the consideration payable by them directly or
indirectly for each Offer Share subscribed for or purchased by them is the same as the Offer Price
in addition to any brokerage, AFRC transaction levy, SFC transaction levy and Stock Exchange
trading fee payable.
OTHERS/ADDITIONAL INFORMATION
Placing to connected client with a prior consent under paragraph 1C(1) of the Placing
Guidelines
The Company has applied to the Stock Exchange, and the Stock Exchange has granted, a consent
under paragraph 1C(1) of the Placing Guidelines to permit the Company to allocate certain Offer
Shares in the International Offering to a connected client. The allocation of Offer Shares to such
connected client is in compliance with all the conditions under the consent granted by the Stock
Exchange.


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11
Details of the placement to the connected client are set out below:
Connected
distributor Connected client
Relationship
between connected
distributor and
connected client
Basis of holding
securities
No. of Offer
Shares
subscribed
% to total
Offer Shares
under Global
Offering
% to total
issued Shares
immediately
upon completion
of the Global
Offering (Note 1)
CITIC Securities
Brokerage (HK)
Limited ( “CITIC
Brokerage ”)
CITIC Securities
International Capital
Management
Limited ( “CSICM”)
CSICM is a member
of the same group
of companies as
CITIC Brokerage Non-discretionary 39,200 0.40% 0.00%
Note:  CSICM will act as the single counterparty of a back-to-back total return swap transaction (the “CSICM Back-
to-back TRS ”) to be entered into by CSICM in connection with a total return swap order (the “CSICM Client
TRS”) placed by its ultimate client (the “CSICM Ultimate Client ”), by which CSICM will pass the full
economic exposure of the Offer Shares placed to CSICM to the CSICM Ultimate Client. CSICM will hold the
beneficial interest of the Offer Shares on behalf of the CSICM Ultimate Client on a non-discretionary basis.
The CSICM Ultimate Client may exercise an early termination right to early terminate the CSICM Client TRS
at any time from the trade date of the CSICM Client TRS which should be on or after the date on which the
Offer Shares are listed on the Stock Exchange. Upon the final maturity or termination of the CSICM Client
TRS by the CSICM Ultimate Client, CSICM will dispose of the Offer Shares on the secondary market and the
CSICM Ultimate Client will receive a final termination amount of the CSICM Back-to-back TRS which should
have taken into account all the economic returns or economic loss in relation to the Offer Shares and the fixed
amount of transaction fees of the CSICM Back-to-back TRS and the CSICM Client TRS. CSICM will not
exercise the voting right of the Offer Shares during the terms of the CSICM Back-to-back TRS.
The CSICM Ultimate Client is Ningyong Fuchun No. 9 Private Equity Investment Fund (ʱ 9໮ӷ෍ᗇ
ږthe “CSICM Ultimate Client ”). The general partner of the CSICM Ultimate Client is Shanghai
Ningyongfu Private Equity Fund Management Partnership (Limited Partnership) (၍ଣΥ
ྫΆุ(Υྫ )) which is in turn held as to more than 30% by Mr. Weng Qiang ( ॽ੶). The limited partner
holding 30% or more interest in the CSICM Ultimate Client is Lu Xuyang (เ)
CSICM has confirmed that, to the best of their knowledge, (i) each of the CSICM Ultimate Client and the
ultimate beneficial owners holding 30% or more interest of the CSICM Ultimate Client listed above is an
independent third party of (a) the Company, its subsidiaries, the connected persons or the associates thereof; and
(b) CSICM, CITIC Brokerage and the companies which are members of the same group of companies as CITIC
Brokerage.


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DISCLAIMERS
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the
“Stock Exchange ”) and Hong Kong Securities Clearing Company Limited ( “HKSCC ”) take no
responsibility for the contents of this announcement, make no representation as to its accuracy
or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising
from or in reliance upon the whole or any part of the contents of this announcement.
This announcement is for information purposes only and does not constitute an invitation or offer
to acquire, purchase or subscribe for securities. Potential investors should read the Prospectus
for detailed information about the Company and the Global Offering described below before
deciding whether or not to invest in the Offer Shares.
This announcement is not for release, publication or distribution, directly or indirectly, in or
into the United States (including its territories and possessions, any state of the United States
and the District of Columbia). This announcement does not constitute or form a part of any
offer or solicitation to purchase or subscribe for securities in the United States or in any other
jurisdiction. The Offer Shares have not been and will not be registered under the United States
Securities Act of 1933, as amended from time to time (the “U.S. Securities Act ”) or securities
law of any state or other jurisdiction of the United States and may not be offered, sold, pledged
or transferred within the United States, except in transactions exempt from, or not subject to, the
registration requirements of the U.S. Securities Act. There will be no public offer of the Offer
Shares in the United States. The Offer Shares are being offered and sold outside the United
States in offshore transactions in reliance on Regulation S under the U.S. Securities Act.
* Potential investors of the Offer Shares should note that the Sponsor-Overall Coordinator (for itself and on behalf
of the Hong Kong Underwriters) shall be entitled to terminate their obligations under the Hong Kong Underwriting
Agreement with immediate effect upon the occurrence of any of the events set out in the section headed “Underwriting
– Underwriting Arrangements and Expenses – Hong Kong Public Offering – Grounds for Termination ” in the
Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date.
PUBLIC FLOAT AND FREE FLOAT
As all of the Company ’s Unlisted Shares will be converted into H Shares, immediately upon
completion of the Global Offering and the Conversion of Unlisted Shares into H Shares, the
Company will have 90,679,175 H Shares. Upon completion of the Global Offering and the
Conversion of Unlisted Shares into H Shares, 63,004,435 H Shares (representing approximately
69.48% of the total issued Shares upon Listing) to be converted from the Unlisted Shares are held
by core connected persons of the Group and would not be considered as part of the public float. As
a result of the foregoing, upon completion of the Global Offering and the Conversion of Unlisted
Shares into H Shares, an aggregate of 27,674,740 H Shares, representing approximately 30.52%
of the total issued share capital of the Company would be counted towards the public float upon
Listing, which is higher than the prescribed percentage of H Shares required to be held in public
hands of 25% under Rule 19A.13A(1) of the Listing Rules.
To the best knowledge of the Directors, the 9,068,000 H Shares to be issued pursuant to the Global
Offering are expected to be held by the public and will not be subject to any disposal restrictions
(whether under contract, the Listing Rules, applicable laws or otherwise). Based on the final Offer
Price of HK$55.50 per H Share, the Company will satisfy the free float requirements under Rule
19A.13C(1)(a) of the Listing Rules.


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13
The Directors confirm that, immediately following the completion of the Global Offering: (i) no
placee will, individually, be placed more than 10% of the enlarged issued share capital of the
Company; (ii) there will not be any new substantial Shareholder (as defined in the Listing Rules)
of the Company; (iii) the three largest public shareholders of the Company do not hold more than
50% of the H Shares in public hands at the time of the Listing in compliance with Rules 8.08(3)
and 8.24 of the Listing Rules; and (iv) there will be at least 300 Shareholders at the time of the
Listing in compliance with Rule 8.08(2) of the Listing Rules.
COMMENCEMENT OF DEALINGS
The H Share certificates will only become valid evidence of title at 8:00 a.m. on Wednesday, May
27, 2026 (Hong Kong time), provided that the Global Offering has become unconditional and the
right of termination described in the section headed “Underwriting – Underwriting Arrangements
and Expenses – Hong Kong Public Offering – Grounds for Termination ” in the Prospectus has
not been exercised. Investors who trade the H Shares on the basis of publicly available allocation
details prior to the receipt of H Share certificates or prior to the H Share certificates becoming
valid evidence of title do so entirely at their own risk.
Assuming that the Global Offering becomes unconditional at or before 8:00 a.m. on Wednesday,
May 27, 2026 (Hong Kong time), it is expected that dealings in the H Shares on the Stock
Exchange will commence at 9:00 a.m. on Wednesday, May 27, 2026 (Hong Kong time). The H
Shares will be traded in board lots of 100 H Shares each, and the stock code of the H Shares will
be 2723.
By order of the Board
Beijing DeepZero Technology Co., Ltd.
Ms. HUANG Xiaonan
Chairwoman of the Board and executive Director
Hong Kong, May 26, 2026
As of the date of this announcement, the Board comprises: (i) Ms. Huang Xiaonan, Mr. Xie Peng
and Mr. Yang Zhuo as executive Directors; (ii) Ms. Tian Tian, Mr. Huang Haibo and Mr. Huang
Hao as non-executive Directors; and (iii) Ms. Li Juan, Mr. Xue Yansong and Mr. Guo Bing as
independent non-executive Directors.
