CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities") is the sponsor for the non-public issuance of A shares (hereinafter referred to as "this non-public issuance") by Beifang International Cooperation Co., Ltd. (hereinafter referred to as "Beifang International" or "the Company"). In accordance with the requirements of the "Regulations on the Management of Securities Issuance and Listing Sponsorship," "Regulations on the Supervision of Funds Raised by Listed Companies," and "Self-Regulatory Guidelines No. 1 for Main Board Listed Companies" issued by the Shenzhen Stock Exchange, CITIC Securities has conducted a verification of the storage and use of funds raised by Beifang International for 2025. The verification results and opinions are as follows:
1. Basic Situation of the Raised Funds
According to the resolutions passed at the fourth, tenth, and fifteenth meetings of the ninth board of directors, the third and sixth meetings of the ninth supervisory board, and the third extraordinary general meeting of shareholders in 2025, and with the approval of the China Securities Regulatory Commission (CSRC) on November 25, 2025, under document [2025]2605, the Company issued 90,056,285 shares of ordinary shares (A shares) to specific targets, increasing the registered capital by RMB 90,056,285.00. The new registered capital is RMB 1,161,442,159.00, with a total share capital of RMB 1,161,442,159.00. The total amount raised from this issuance is RMB 959,999,998.10, with underwriting fees of RMB 2,800,000.00 (including VAT), resulting in actual cash received of RMB 957,199,998.10. After deducting issuance expenses of RMB 3,575,524.79 (excluding VAT), the net amount of raised funds is RMB 956,424,473.31, which includes an increase in share capital of RMB 90,056,285.00 and an increase in capital reserve of RMB 866,368,188.31. All funds were in place by December 19, 2025, verified by Lixin Certified Public Accountants (Special General Partnership), which issued verification report [2025] ZG12996. The Company has implemented a dedicated account storage system for the raised funds, with the dedicated account opened at CITIC Bank Beijing Branch, account number: 8110701012103236892.