BAIWANG CO(06657) plans to establish a joint venture company to build an enterprise credit technology and services business.

BAIWANG CO(06657) announced that on September 14, 2026, the Company entered into an investment agreement with Qichacha Technology, Yancheng Hongqiao and Suzhou Baisheng, pursuant to which the joint venture parties agreed to jointly contribute capital to establish a joint venture company to build an enterprise credit technology and services business. The registered capital of the joint venture company is RMB 15 million, of which the Company will subscribe for a capital contribution of RMB 3 million in cash, accounting for 20% of the registered capital of the joint venture company; Qichacha Technology will subscribe for a capital contribution of RMB 7.65 million in cash, accounting for 51% of the registered capital of the joint venture company; Yancheng Hongqiao will subscribe for a capital contribution of RMB 1.995 million in cash, accounting for 13.3% of the registered capital of the joint venture company; and Suzhou Baisheng will subscribe for a capital contribution of RMB 2.355 million in cash, accounting for 15.7% of the registered capital of the joint venture company. The joint venture company intends to build an independently operated enterprise credit technology and services company targeting the Chinese market, conducting business around enterprise credit files, enterprise credit scoring and rating, credit risk monitoring, commercial credit reports, credit decision-making and related data products. Qichacha Technology is an enterprise in the field of commercial data inquiry, with mature product development capabilities, a data governance system and data mining technology, covering multi-dimensional data such as industrial and commercial registration, judicial litigation, intellectual property, public opinion monitoring, financial data and equity penetration, and has a massive individual user base and high market visibility. The Group has long been deeply engaged in fiscal and tax digitalization and data-driven enterprise analysis services, with more than ten years of tax data accumulation, and holds tax, consumption, social security and other data assets with high uniqueness and strong compliance barriers, and has a mature and stable channel system. The Board believes that the joint venture company can combine Qichacha Technology's commercial data, product development, data governance and data mining capabilities with the Group's fiscal and tax and transaction data capabilities, enterprise customer channels and application scenarios to develop enterprise credit files, credit scoring and rating, credit risk monitoring, commercial credit reports and credit decision-making products, which will help the Group expand the application scenarios of enterprise credit technology and related data products, promote resource complementarity among the joint venture parties, and share in the potential development returns of the joint venture company under the Company's controllable capital contribution exposure.