USPACE TECH: SUPPLEMENTAL ANNOUNCEMENT OFANNUAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2024

USPACE TECH recorded a net loss of RMB 0.265 billion in the fiscal year 2024, with a net cash outflow from operating activities reaching RMB 42.71 million. As of December 31, 2024, the group's current liabilities exceeded current assets by RMB 0.162 billion, and cash and cash equivalents were only RMB 28.72 million.During the period, the group faced several operational challenges, including receiving a summons for approximately HKD 47.35 million for allegedly violating a property lease agreement in Hong Kong. Additionally, the group still has significant capital expenditure commitments to fulfill under various contracts and other arrangements.The independent auditor has raised a substantial doubt about the group's ability to continue as a going concern but has not modified its audit opinion. The auditor believes that the group's consolidated financial statements present a true and fair view of its financial position in accordance with Hong Kong Financial Reporting Standards.

USPACE TECH recorded a net loss of RMB 0.265 billion in the fiscal year 2024, with a net cash outflow from operating activities reaching RMB 42.71 million. As of December 31, 2024, the group's current liabilities exceeded current assets by RMB 0.162 billion, and cash and cash equivalents were only RMB 28.72 million.During the period, the group faced several operational challenges, including receiving a summons for approximately HKD 47.35 million for allegedly violating a property lease agreement in Hong Kong. Additionally, the group still has significant capital expenditure commitments to fulfill under various contracts and other arrangements.The independent auditor has raised a substantial doubt about the group's ability to continue as a going concern but has not modified its audit opinion. The auditor believes that the group's consolidated financial statements present a true and fair view of its financial position in accordance with Hong Kong Financial Reporting Standards.