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First, strategic positioning and core competitivenessChina Great Wall continued to increase investment in R&D. In 2022, the R&D expenditure reached 1.322 billion yuan, up 6.01% year-on-year, and its technology R&D capability continued to increase. The company benchmarks the first-class enterprises in the industry, deeply finds the shortcomings of analysis ability, clarifies the direction of ability improvement, strengthens the capacity building of independent hardware, software, testing and data technology in the field of computing industry, and further consolidates the technical foundation. In the field of system equipment, mastering a number of key technologies can help improve the quality and efficiency of array production, break through technical difficulties, and the capacity index is better than the industry level. In addition, China Great Wall has successfully built a research and development team composed of top talents in the industry, continuously strengthened key core technology research and improved the research and development capability of high-end computing products.China Great Wall has newly established an international market leading group and a financial market leading group, exploring the organization mode of cross-enterprise market development, strengthening cooperation and coordination with partners, and keeping a close eye on the target to grab the market. The terminal products of the industry have maintained their advantages in STM, business card printing, intelligent teller machines, ITM and other projects, and won the bid for several demonstration projects, becoming the only pilot supplier of China Industrial and Commercial Bank. Great Wall Power Supply, a key component product, has achieved mass production in five key R&D projects, including DIYATX750-1200 full-module gold medal power supply and high-end customized communication power supply. The printing business established a sales system and an industry distribution system, and settled in four major e-commerce platforms in JD.COM, Tmall, Pinduoduo and Tik Tok, achieving breakthroughs in finance, central enterprises and systems and equipment industries. In terms of international business, we will accelerate the establishment of overseas offices in North America, the European Union, Africa, Southeast Asia and other regions.

At the beginning of 2022, China Great Wall completed a fixed increase of nearly 4 billion yuan to raise funds for domestic high-performance computer and server core technology research and development and capacity improvement projects, information and new energy infrastructure construction projects, high-tech electronic innovation and application projects, etc., with the aim of strengthening the layout of the network information industry, enhancing the core technology research and development capabilities and meeting the market demand for domestic high-performance computers and servers. Although Great Wall Information terminated the spin-off and listing, the company indicated that the follow-up capital operation arrangement needed further analysis and demonstration, which showed China Great Wall's flexible strategy in capital operation and thoughtful consideration for future development.tagChina Great Wall has newly established an international market leading group and a financial market leading group, exploring the organization mode of cross-enterprise market development, strengthening cooperation and coordination with partners, and keeping a close eye on the target to grab the market. The terminal products of the industry have maintained their advantages in STM, business card printing, intelligent teller machines, ITM and other projects, and won the bid for several demonstration projects, becoming the only pilot supplier of China Industrial and Commercial Bank. Great Wall Power Supply, a key component product, has achieved mass production in five key R&D projects, including DIYATX750-1200 full-module gold medal power supply and high-end customized communication power supply. The printing business established a sales system and an industry distribution system, and settled in four major e-commerce platforms in JD.COM, Tmall, Pinduoduo and Tik Tok, achieving breakthroughs in finance, central enterprises and systems and equipment industries. In terms of international business, we will accelerate the establishment of overseas offices in North America, the European Union, Africa, Southeast Asia and other regions.

China Great Wall has newly established an international market leading group and a financial market leading group, exploring the organization mode of cross-enterprise market development, strengthening cooperation and coordination with partners, and keeping a close eye on the target to grab the market. The terminal products of the industry have maintained their advantages in STM, business card printing, intelligent teller machines, ITM and other projects, and won the bid for several demonstration projects, becoming the only pilot supplier of China Industrial and Commercial Bank. Great Wall Power Supply, a key component product, has achieved mass production in five key R&D projects, including DIYATX750-1200 full-module gold medal power supply and high-end customized communication power supply. The printing business established a sales system and an industry distribution system, and settled in four major e-commerce platforms in JD.COM, Tmall, Pinduoduo and Tik Tok, achieving breakthroughs in finance, central enterprises and systems and equipment industries. In terms of international business, we will accelerate the establishment of overseas offices in North America, the European Union, Africa, Southeast Asia and other regions.IV. Capital Operation and Future DevelopmentSecond, technological innovation and R&D strength