Onewo Inc. Tax Compliance Policy

Onewo Inc.

Tax Compliance Policy

I. Background

In September 2022, Onewo Inc. (hereinafter referred to as "Onewo") was listed on the Main Board of the Hong Kong Stock Exchange, with the stock code 2602.HK. Onewo is committed to being a technology-led, all-domain space service provider, focusing on creating an industrial-level shared service platform based on space Internet of Things technology and applications to build an industrial Internet ecosystem.

Onewo adheres to the principles of integrity and compliance in fulfilling its global tax obligations and has established this Tax Compliance Policy. The policy aims to ensure the proper fulfillment of tax obligations in global business operations, strict compliance with tax-related laws and regulations, and the maintenance of the company's good reputation and long-term development.

II. Applicable Scope

This policy applies to all business activities of Onewo and its subsidiaries, including but not limited to branches and subsidiaries in various countries and regions.

III. Tax Strategy and Management Principles

1. Compliance with Tax Laws and Regulations

Onewo strictly complies with the tax laws and regulations applicable in the jurisdictions where it operates, fulfilling its tax obligations and exercising its tax rights in accordance with the law.

2. No Value Transfering to Low-Tax Jurisdictions

Onewo prohibits the transfer of value created in high-tax jurisdictions to low-tax jurisdictions through unreasonable related-party transactions, cost allocation, or asset transfers.

3. No Use of Tax Structures Without Commercial Substance

Onewo does not use corporate structures without commercial substance to evade tax obligations or shift profits. It does not implement tax arrangements lacking a legitimate commercial purpose and economic activity, always ensuring compliance with tax obligations in accordance with the law.

4. No Use of Secrecy Jurisdictions or "Tax Havens" for Tax Evasion

Onewo does not establish entities in so-called secrecy jurisdictions or "tax havens" without actual business operations for the purpose of tax evasion that lacks a legitimate commercial purpose.

IV. Tax Governance

1. Onewo's tax management policy is supervised by the board of directors to ensure compliance with local tax laws and regulations, as well as the principles of integrity and compliance. The tax management policy is regularly reviewed and updated to ensure it meets local legal and regulatory requirements and the company's strategic objectives.

2. Onewo discloses the main taxes and tax rates applicable to the group and its subsidiaries in various jurisdictions, as well as tax incentives and other tax-related information in its annual audit report each year.

V. Policy Development, Monitoring, and Review

Onewo will continuously monitor the applicability and compliance of this policy and will review and update it every three years or as appropriate.