CIMG Says On Dec 12, Unit Entered Into China Merchants Bank It Equipment Procurement Framework Contract; Unit To Supply Cmb With Certain Computing Power & Server Equipment; Total Agreement Value For Contract Is About RMB752.2 Million Inclusive Of Value-Added Tax

China Merchants Bank IT Equipment Procurement Framework Contract

On December 12, 2025, the Company, through its wholly owned subsidiary Zhongyan Shangyue Technology Co., Ltd. ("Zhongyan Shangyue"), entered into a China Merchants Bank IT Equipment Procurement Framework Contract (the "IT Equipment Procurement Framework Contract") with China Merchants Bank Co., Ltd. ("CMB").

Pursuant to the IT Equipment Procurement Framework Contract, Zhongyan Shangyue agreed to supply CMB with certain computing power and server equipment, including CPU servers and GPU servers, together with related installation, commissioning, warranty and maintenance services. The total agreement value is approximately RMB 752.2 million (approximately USD 106.5 million), inclusive of value-added tax, with the final amount subject to CMB's inspection and acceptance. If CMB modifies its quantity requirements for the products, Zhongyan Shangyue is obligated to supply the corresponding products upon receipt of notice from CMB, with the contract amount to be determined based on the actual quantities ordered and accepted.

Under the terms of the IT Equipment Procurement Framework Contract, Zhongyan Shangyue is required to deliver the equipment to designated locations specified by CMB within 30 working days from the execution of this IT Equipment Procurement Framework Contract and to provide a warranty period of 60 months from acceptance. Payment is to be made by CMB within 60 working days after acceptance of the products and receipt of a valid value-added tax invoice.

The IT Equipment Procurement Framework Contract contains customary representations, warranties, quality assurance obligations, service continuity requirements, intellectual property protections, liquidated damages, force majeure provisions and dispute resolution terms.

The foregoing description of the IT Equipment Procurement Framework Contract does not purport to be complete and is qualified in its entirety by reference to the full text of the IT Equipment Procurement Framework Contract, a copy of which is filed as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference.