In December 2025, Suzhou Tianzun Technology Co., Ltd. (stock code: 688003; hereinafter "Tianzun Technology") successfully completed the issuance of convertible corporate bonds to unspecified investors, raising a total of RMB 872 million in the offering. Serving as legal counsel to Tianzun Technology, the project team of Liu He Law Firm participated throughout the entire process and contributed to the successful completion of this refinancing project.

Tianzun Technology is a well-known domestic platform enterprise in visual inspection equipment, dedicated to driving the intelligent digital transformation of industry through artificial intelligence technology. The company has long been deeply engaged in the machine vision sector, having established a highly efficient customer-centric organisational structure and cultivated a strong brand reputation. Leveraging its profound technological expertise, Tianzun Technology has served over 6,000 clients worldwide and has built deep penetration into application scenarios across industries including electronics, semiconductors, and new energy vehicles. The company maintains close partnerships with numerous industry-leading clients such as Apple, Huawei, Lens Technology, Infineon, LONGi, BYD, GAC, SAIC, and Cainiao.

The funds raised in this offering will be applied primarily towards three projects: the Research, Development and Industrialisation of Industrial Visual Equipment and Precision Measurement Instruments; the Research, Development and Industrialisation of Semiconductor Metrology Equipment; and the Research, Development and Industrialisation of Intelligent Driving and Embodied Intelligence Controllers. The implementation of these projects will further consolidate Tianzun Technology's leading position in the field of high-end visual equipment and inject strong momentum into the company's continued development.

Tianzun Technology was listed on the STAR Market in July 2019 and was among the first batch of companies to be listed on the STAR Market. Liu He Law Firm had the privilege of providing legal services from the company's IPO stage onwards, and served as legal counsel on this convertible bond project, participating in the legal work across all stages of the project. Throughout the execution of the project, the Liu He legal team demonstrated a professional, rigorous, and efficient working approach that earned high recognition from the client.

The successful issuance of these convertible bonds represents not only a significant milestone for Tianzun Technology in the capital markets, but also a further testament to the professional strength of Liu He Law Firm in the area of securities and capital markets work. Going forward, Liu He Law Firm will continue to uphold its commitment to professional excellence and contribute to Tianzun Technology's development in the capital markets.

The Liu He team members serving on this project included: Managing Partner Zhang Qi, Senior Partner Gao Jinbang, and Associates Lv Rong and Wang Chengcai.