CTW

Our Corporate History We are a Cayman Islands exempted company limited by shares incorporated on November 15, 2024. Exempted companies are Cayman Island companies conducting business mainly outside the Cayman Islands and, as such, are exempted from complying with certain provisions of the Companies Act (as amended) of the Cayman Islands (the Cayman Companies Act ). We commenced our operations in August 2013 through CTW Inc., or CTW Japan. In June 2023, Bao Cayman, our previous holding company, was incorporated under the laws of the Cayman Islands. In September 2023, CTW Singapore was incorporated under the laws of Singapore. In March 2024, Shanghai Tuwaii Tech Co, Ltd., or Shanghai Tuwaii was incorporated in the PRC. In connection with the IPO, we undertook a restructuring of our corporate structure (the Reorganization ) in the following steps: In November 2024, CTW Cayman, our current ultimate holding company, was incorporated under the laws of the Cayman Islands. In September 2024, Beijing Weiyou Chuxin Tech Co, Ltd., or CTW Beijing was established under the laws of PRC (the Beijing WOFE ). In November 2024, CTW Hong Kong was incorporated under the laws of Hong Kong. 27 In January 2025, CTW Cayman acquired 100% equity interest in Bao Cayman and as a result, Bao Cayman has become a wholly-owned subsidiary of CTW Cayman. In April 2025, Beijing WOFE established a fully owned subsidiary, Shanghai Weiyouyi Chuxin Tech Co., Ltd. or CTW Shanghai under the laws of PRC (the CTW Shanghai ).