CLPS

• Global expansion: Significant progress in US market with revenue up 72%, and Japan market with revenue up 156% in the first half of fiscal year 2023; overseas staff grew by 9%. • Product development: Launched scenario-based digital currency application solution; continued improvement of CAKU 2.0; developed new loan system with facial recognition, OCR, and ongoing integration of NLP and RPA; moved credit card and loan systems out of core banking to improve efficiency. • Talent development: Partnerships with Australian National University, Educare Global Academy, and University of Hong Kong for IT training.

• Fiscal year 2023 total sales growth expected in the range of approximately 5% to 10%. • Fiscal year 2023 net income growth expected in the range of approximately 7% to 12%.

Wealth management: Revenue increased by approximately 24% to $19 million during the period, with a 35% year-over-year increase in RMB terms. E-commerce: Revenue increased by approximately 3% year-over-year in RMB terms. Automotive: Revenue increased by approximately 30% to $7 million during the period, with a 41% year-over-year increase in RMB terms.

• Regulatory compliance risks related to audit issues and potential delisting, with ongoing work with US counsel and auditors. • Impact of global economic growth slowdown, COVID-19, and industry changes leading to increased costs and short-term challenges.

Q: Congratulations on the results. Can you tell us about your expectation for the audit issues that are there unresolved and the potential for delisting. And my second question is, could you give more color on why your net income decreased during this period.

A: Rui Yang discussed working with US counsel and auditors on regulatory compliance, progress with CSIC and PCLB agreements; net income decrease due to global economic slowdown, COVID-19 impact, and increased compensation costs.

Q: Any updates on the [indiscernible] IPO.

A: Rui Yang mentioned GRT's listing material update based on regulatory requirements, automotive area's growth and potential value to shareholders.