Securities code: 688008 Securities abbreviation: Lanqi Technology Announcement No.: 2023-023

Lanqi Technology Co., Ltd.

A suggestive announcement on the change in the equity of shareholders holding more than 5% of shares reaching 1%

WLT Partners, L.P. and Zhuhai Rongying Equity Investment Partnership (

Limited Partnership) guarantees that the information provided to Lanqi Technology Co., Ltd. does not contain any false records, misleading statements or material omissions, and assumes legal responsibility for its authenticity, accuracy and completeness in accordance with the law.

the company's board of directors and all directors to ensure that the announcement content and information disclosure obligations provided by the information.

Important Content Tips:

The reasons for the change in equity include shareholder reduction, transfer lending and passive dilution, in which centralized bidding is reduced.

The shareholding is the implementation of the share reduction plan disclosed in the previous period, which does not involve the source of funds and does not touch the tender offer; after this equity change, shareholders WLTPartners,L.P. and Zhuhai Rongying Equity Investment Partnership (there are

Limited Partnership) (hereinafter referred to as "WLT and its concerted action person" or "information disclosure obligor") total.

The number of shares held in the Company was reduced from 129,111,925 to 116,819,616, with the total shareholding ratio being reduced from

11.39 per cent down to 10.28 per cent;

The Company has no de facto controller, and this change in equity will not result in a change in the status of the Company without de facto controller,

It will not affect the company's governance structure and continuing operations.

Lanqi Technology Co., Ltd. (hereinafter referred to as the "Company") received information on March 20, 2023

Notice Letter on Changes in Shareholders' Equity of Lanqi Technology Co., Ltd. from Disclosure Obligor, WLT

and its concerted actors from November 16, 2022 to March 20, 2023, through block transactions.

A total of 6,292,309 shares of the Company were reduced through centralized bidding and trading, and the balance of the number of shares lent through refinancing securities was 6 million shares, accounting for approximately 1.08 percent of the Company's total share capital. At the same time, the shareholding of WLT and its concert parties was passively diluted due to the increase in the Company's total share capital due to the ownership of restricted shares. After this change in equity, WLT and its concert parties held a total of 116,819,616 shares of the Company, representing 10.28 of the Company's total share capital.

The relevant changes in equity are hereby announced as follows:

1. information disclosure obligor and the basic situation of this equity change

1. Basic information on information disclosure obligors

(1)WLT Partners, L.P.

Enterprise name WLT Partners, L.P.

Sertus Chambers,P.O. Box 2547,Cassia Court,Camana Bay,Grand

Cayman,Cayman Islands

Company Registration Number 83610

Date of Establishment 15 October 2015

Main business investment

(2) Zhuhai Rongying Equity Investment Partnership (Limited Partnership)

Enterprise Name Zhuhai Rongying Equity Investment Partnership (Limited Partnership)

Residence: Room 105, No. 6 Baohua Road, Hengqin New District, Zhuhai City -12629

Unified social credit code 91440400MA4UM0K41T

Date of Establishment February 4, 2016

Main business Equity investment, investment management

2. Basic information on the change in equity

Information Disclosure Interest Change Equity Change Date Share Type Reduction/Lending Equity Change

Number of employees (shares) Proportion

Concentrated Competition March 20, 2023 RMB common stock 1,333,152 0.12

price transaction

Bulk delivery November 16, 2022-RMB common stock 4,959,157 0.44

WLT Easy 13 December 2022

Partners, L.P. transfer November 17, 2022-RMB common 6,000,000 0.53 percent

Lending January 20, 2023

Others 23 Dec 2022-RMB Ordinary Shares -0.01%

7 February 2023

Zhuhai Rongying Stock

Right Investment Partnership Other December 23, 2022-RMB Common Stock -0.01%

Enterprise (Limited 7 February 2023

gang)

Total 12,292,309 1.11%

Note: The change mode "other" refers to the increase in the company's total share capital due to the ownership of restricted shares, and the passive dilution of the shareholding ratio of the information disclosure obligor; the "equity change ratio" is calculated on the basis of the company's current latest total share capital of 1,136,078,141 shares.

3. Information disclosure obligor's shareholding before and after the change in equity

Name of shareholder Type of share Before this change in equity After this change in equity

Number of shares held (shares) Percentage of shares held (shares) Percentage of shares held

WLT RMB 67,816,687 5.98 55,524,378 4.89%

Partners, L.P. General Stock

Zhuhai Rongying Stock

Right Investment Partnership RMB 61,295,238 5.41 61,295,238 5.40%

Enterprise (Limited Share

partnership)

Total 129,111,925 11.39 116,819,616 10.28

Note: The "shareholding ratio" of "before this equity change" is based on 1,133,656,831 shares of the Company's total share capital at the time of the previous equity change of the information disclosure obligor (November 9, 2022); the "shareholding ratio" of "after this equity change" is based on 1,136,078,141 shares of the Company's latest total share capital. Due to rounding, there is a tail difference between the sum of the shareholdings and the total.

Follow-up matters involved in 2.

1. The reasons for this equity change include shareholder reduction, refinancing and lending and passive dilution, in which the centralized bidding reduction is the implementation of the previously disclosed share reduction plan, which does not involve the source of funds and does not touch the tender offer.

2. The company has no actual controller, and this equity change will not cause the company to have no actual controller status to change, and will not affect the company's governance structure and continuous operation.

3, according to the company on January 31, 2023 disclosed the "shareholders concentrated bidding to reduce the share plan announcement"

(Announcement No.: 2023-007),WLT and its concerted action persons plan to reduce their holdings of the company's shares by means of centralized bidding, and the proportion of the shares to be reduced to the total share capital of the company shall not exceed 22,681,364 shares.

More than 2%, the reduction period is from February 21, 2023 to August 19, 2023, and the reduction price will be based on

The market price is determined. As of the date of this announcement, the aforementioned reduction plan has not been implemented. The company will continue to pay attention to the progress of the implementation of the reduction plan and perform information disclosure obligations in accordance with relevant laws and regulations.

It is hereby announced.

Lanqi Technology Co., Ltd.

Board of Directors

March 21, 2023