Youdao, Inc.

Youdao Inc. American Depositary Receipt represents equity ownership in Youdao Inc., a leading Chinese technology company specializing in intelligent learning products and services. The primary function of this asset is to enable international investors to hold shares in Youdao Inc. through an American Depositary Receipt (ADR) structure, which facilitates access to overseas capital while denominating the security in U.S. dollars for ease of trading and settlement. Youdao Inc., originally established as a part of the internet technology landscape, focuses on online education platforms, language learning applications, educational hardware, and a broad array of artificial intelligence-driven tools tailored to students, professionals, and lifelong learners. The company plays a significant role in the expanding EdTech sector, serving educational institutions, individuals, and corporate clients seeking digital transformation in learning. Youdao Inc. American Depositary Receipts are structured to offer holders proportional economic interest and, in some cases, limited voting rights reflective of the underlying Class A ordinary shares. This instrument enhances the visibility and accessibility of Youdao Inc. on global financial markets, contributing to greater liquidity and diversified investor participation.