Legal Opinion
To: Zhangjiajie Tourism Group Co., Ltd.
Hunan Renhe Ren (Zhangjiajie) Law Firm (hereinafter referred to as "this firm") accepts the commission from Zhangjiajie Tourism Group Co., Ltd. (hereinafter referred to as "Zhang Group" or "the Company") based on the "Company Law of the People's Republic of China" (2023 revision), "Securities Law of the People's Republic of China" (2019 revision), and other legal regulations, as well as the "Guidelines for the Listing of Stocks" (2026 revision) (hereinafter referred to as "this application") regarding the withdrawal of other risk warnings.
This legal opinion states as follows:
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This legal opinion is based on facts that have occurred or existed at the time of issuance and reflects the legal provisions and norms applicable to the documents expressed herein.
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The Company has provided all materials necessary for this legal opinion, which must be true, complete, and effective. Any false materials or omissions will be deemed as a breach of this legal opinion.
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This legal opinion only applies to this application and does not serve any other purpose.
Based on the above, the current legal opinion is as follows:
1. Zhang Group has been subject to other risk warnings
On April 15, 2025, Zhang Group issued an announcement regarding the suspension of trading due to other risk warnings (Announcement No.: 2025-020). The latest three annual reports indicate that the Company’s stock prices have fluctuated significantly, with values of -58, 209, 17, 8.344 million, -23, 933, 064.668 million, -25,977, 028.005 million. The annual report for the current year indicates that the Company has faced significant operational uncertainties.