Securities Report – 12th Fiscal Period (2025/04/01 – 2026/03/31)

Kudan Inc. Securities Report – 12th Fiscal Period (2025/04/01 – 2026/03/31)

Pursuant to the Financial Instruments and Exchange Act, we hereby submit our Securities Report for the 12th fiscal period, from April 1, 2025, to March 31, 2026. This report is intended to provide investors and market participants with accurate and timely information regarding our business performance, financial condition, management policies, risk factors, and future outlook.

As a technology company specializing in AI-powered spatial recognition, we provide high-precision sensing solutions for autonomous vehicles, mobility robots, and industrial machinery. Our core technology is our proprietary SLAM (Simultaneous Localization and Mapping) system, which enables stable and accurate self-positioning in complex environments through sensor fusion of LiDAR and cameras.

For the 12th fiscal period, our management strategy focuses on deepening technology integration with existing customers while expanding into new industrial sectors. Specifically, we plan to broaden our technology deployment into construction machinery, agricultural robots, and logistics automation systems—areas where precise spatial awareness is critical. We will also prioritize establishing partnerships in overseas markets to accelerate global expansion.

Regarding our financial position, we will continue to prioritize R&D investment from the previous fiscal year, allocating resources toward the development of next-generation SLAM algorithms and strengthening our technical support infrastructure. In terms of future revenue models, in addition to licensing, we are exploring the provision of cloud-based AI sensing services to diversify our revenue streams.

Key risk factors include delays in technology development, the emergence of competitors, project cancellations by client companies, and changes in international regulations. To mitigate these risks, we will continue to drive technological innovation and validate our technology across diverse industries.

Looking ahead, we regard the 12th fiscal period as a crucial phase for increasing real-world implementation cases and strengthening our revenue foundation. We aim to expand our business in line with the growth of the autonomous driving and robotics markets, achieving sustainable long-term growth.