Ping An Puhui Enterprises Management Co., Ltd. renewed the 2023 service purchasing agreement by entering into the 2024 services purchasing agreement with Ping An Insurance (Group) Company of China, Ltd. on March 21, 2024 pursuant, to which Ping An Insurance will provide certain services to Ping An Puhui Enterprises Management, including financial consulting services, administrative services, legal and risk management services, and human resources consulting services. The term of the 2024 Services Purchasing Agreement has commenced on March 21, 2024 and will end on December 31, 2024. The estimated service fees payable by to Ping An Insurance under the 2024 Services Purchasing Agreement amount to RMB 37.14 million, subject to the actual services provided.

Such service fees will be payable by Ping An Puhui Enterprises Management to Ping An Insurance on a quarterly basis. The service fees payable under the 2024 Services Purchasing Agreement is determined on a cost-plus basis, representing estimated costs plus a mark-up rate of approximately 5%.