Announcement on the Selection of Custodian Bank for Nanjing X ingong Biomedical Concept Verification Venture Capital Fund Partnership (Limited Partnership)

In accordance with the provisions of Implementation Opinions on Building Nanjing’s "4+N" Industrial Cluster to Focus on Promoting the Development of a City Strong in Industries and Investment Rules for Municipal State-owned Enterprise Funds under Nanjing’s "4+N" Industrial Fund Cluster, Nanjing Xingong Biomedical Concept Verification Venture Capital Fund Partnership (Limited Partnership) (hereinafter referred to as the "Concept Verification Fund"), together with Nanjing Xingong Emerging Industry Investment Management Co., Ltd. (hereinafter referred to as the "Manager"), Nanjing Xingong Investment Group Co., Ltd. (hereinafter referred to as "Xingong Group"), and Nanjing Innovation Investment Group Co., Ltd. (hereinafter referred to as the "VC Group"), will jointly select a custodian bank for the Fund. The selection plan for the custodian bank of the Concept Verification Fund is hereby announced as follows:

I. Main Responsibilities of the Custodian Bank

The custodian bank shall prioritize ensuring the safety of the Fund’s funds, specifically undertaking daily work such as the custody, disbursement, and settlement of the Fund’s funds, conducting dynamic supervision over the Fund’s investment activities, and submitting custodian reports to the Manager on a regular basis. Its main responsibilities are as follows:

Determine the account-opening branch for the Fund’s custodian bank account, open a fund-raising account, custodian fund account, or other necessary accounts for the Fund, and keep relevant account materials.

Be responsible for the custody of the Fund’s funds, account management, fund settlement, and other matters, ensure the independence and safety of the Fund’s assets, and conduct dynamic supervision over investment activities.

In accordance with the Fund Agreement (Articles of Association), resolutions of the partners’ (shareholders’) meeting, etc., review the fund transfer instructions and the attached documents before executing valid fund transfers.

Provide convenient channels for fund transactions, third-party custody, bank-securities transfers, and fund supervision services; offer real-time reminders for fund changes, account balance inquiries, and fund transaction details inquiry and download functions; reconcile accounting records with the Fund Manager within 5 working days at the beginning of each month, and provide online banking receipts, bank statements, etc.

Supervise the use of the custodian Fund’s funds, issue quarterly, semi-annual, and annual custodian reports in the format required by the Fund, submit the quarterly custodian report of the Fund’s funds to the Fund Manager within 10 days after the end of each quarter, and submit the annual custodian report of the Fund’s funds within 1 month after the end of each fiscal year.

Arrange dedicated personnel (with relatively fixed positions) to handle matters related to the Fund, provide professional and efficient services, and respond to and resolve various needs arising from the Fund’s operation within a specified time limit.

Update the Fund’s operation data in a timely manner; in accordance with requirements, the custodian bank account data must be directly connected to the VC Group’s central database system, and the fund flow information related to the Fund’s business must be synchronized in a timely manner to ensure the timeliness of data synchronization.

On the basis of ensuring safety and overall liquidity, when the Fund and the Manager conduct idle fund management and inquire about product quotes from banks, the custodian bank must provide product quotes as required. When the Fund allocates products based on the quotes from the idle fund management plan, the custodian bank shall not obstruct the Fund from purchasing fixed-income financial assets with good safety and liquidity (such as bank deposits, national bonds, and local government bonds) from banks other than the custodian bank for any reason (with funds returned directly to the custodian bank via the original route upon product maturity).

Under the conditions of complying with regulatory rules and bank credit policies, give priority to providing financing support for investment projects of the parent and child funds.

Conduct dynamic supervision over the use, recovery, and management of funds; in case of abnormal fund flows, the custodian bank shall promptly clarify the situation, remind the Fund Manager of violation risks, and report to the Fund Manager and fund contributors in a timely manner.

Cooperate with supervision work, shall not refuse, obstruct, or delay such work, and shall not provide false Fund management materials or information.

Other responsibilities stipulated in the Fund Custodian Agreement and other requirements under relevant laws and regulations.

In case of any violation of the above provisions, the Fund and the Manager shall have the right to unilaterally terminate the Custodian Agreement, reselect a Fund custodian bank, and shall not bear any liability for breach of contract.

II. Qualification Requirements for Custodian Bank Applicants

Banking institutions intending to participate in this selection shall meet the following requirements:

Be a legal person or branch with the capacity to bear civil liabilities, have a good business reputation and a sound financial and accounting system, and maintain a good record of paying taxes and social security funds in accordance with the law.

Be one of the domestically systemically important banks (or their branches) as recently identified by the People’s Bank of China and the National Financial Regulatory Administration.

Be a commercial bank established for more than 5 years, with its headquarters in Nanjing or branches in Nanjing, and have the ability to provide localized services.

Possess the fund custodian qualification approved by the securities regulatory authority under the State Council (China Securities Regulatory Commission) and the National Financial Regulatory Administration.

Have a dedicated fund custodian department and personnel, be able to assign dedicated staff to be responsible for relevant custodian business, and promptly handle problems and propose solutions.

Have the necessary equipment, systems, and professional technical capabilities to perform the Custodian Agreement, and have sound fund custodian, audit supervision, and risk control systems.

Have experience in custodianship of government investment funds, private equity investment funds, or other fund assets.

Be able to provide a capital-guaranteed fund management plan for the idle funds in the Fund’s custodian account.

Have no major negligence or adverse records of penalties imposed by administrative authorities or judicial organs in fund custodian business in the past 3 years.

For commercial banks with branches in Nanjing, the selection shall be participated in by their branches located in Nanjing.

Applications in the form of a consortium shall not be accepted.

Have no other acts prohibited by laws, regulations, etc., from participating in this selection.

III. Selection Process

The selection work shall be carried out in the following procedures: Public Solicitation → Qualification Review → Expert Evaluation → Shortlist Announcement → Agreement Negotiation → Agreement Signing.

The Fund Manager, together with the VC Group, shall jointly issue the selection announcement and select the custodian bank through public procedures.

Banks that intend to apply and meet the above qualification requirements shall submit application materials to the Fund Manager.

The Fund Manager shall conduct qualification review based on the application materials submitted by the participating banks and organize experts to conduct evaluation.

After the selection results are determined, they shall be announced on the official media platforms of the Fund Manager and the VC Group.

The Fund Manager shall conduct business negotiations with the custodian bank on the Custodian Agreement to ensure the implementation of the relevant custodian requirements.

The Fund Manager shall organize a Fund partners’ meeting to confirm the custodian bank and sign the Custodian Agreement.

IV. Application Method

Applicants shall carry out the application for the Fund’s custodian bank in accordance with the requirements of this announcement and prepare detailed application materials as required in the annex.

Participating banks shall be responsible for the authenticity of the materials provided and shall commit to the effective implementation of the service plan and other key elements provided. If a declaring bank is found to have submitted false materials, data, or supporting documents, its qualification for this selection shall be cancelled.

3. Requirements for Material Submission

Deadline for submission of application letter: 15:00 (Beijing Time) on September 26, 2025; late submissions will not be accepted.

Deadline for submission of application materials: 16:00 (Beijing Time) on October 14, 2025; late submissions will not be accepted.

Submission methods:

1.Application letter: Submit the paper version on-site to Nanjing Xingong Emerging Industry Investment Management Co., Ltd. (No. 65, Changjinglou West Street, Xuanwu District, Nanjing, Jiangsu Province). Contact person: Zheng Zhiyao; Tel: 025-86968670.

2.Application materials: Send the sealed electronic version to the email address zzy@niiicapital.com; send 5 paper copies of the application materials to Nanjing Xingong Emerging Industry Investment Management Co., Ltd. (No. 65, Changjinglou West Street, Xuanwu District, Nanjing, Jiangsu Province) by mail or on-site submission. Contact person: Zheng Zhiyao; Tel: 025-86968670.

V. Other Matters

The custodian bank shall strictly implement the relevant commitments. During the custodianship period, the Fund Manager shall regularly evaluate the custodian bank’s performance of obligations and custodian services. If the custodian bank fails to fulfill the responsibilities specified in Section I of this plan or seriously violates the Custodian Agreement, the Fund and the Manager shall have the right to unilaterally terminate the Custodian Agreement, reselect a Fund custodian bank, and shall not bear any liability for breach of contract.

If the custodian bank violates the commitment matters, service requirements, or contractual agreements, the Fund and the Manager shall take measures based on specific circumstances, including but not limited to deducting 5-10 points in the next selection, including it in the negative bank list and no longer selecting it, pursuing liability for breach of contract, and reporting the relevant situation to financial regulatory authorities.

The account-opening branch of the Fund’s bank shall be consistent with the district where the Fund is registered.

Nanjing Xingong Emerging Industry Investment Management Co., Ltd.

September 25, 2025

Source: Xingong Industrial Investment

Reviewer: Xue Yao

Publisher: You Yi