Continuous Supervision Opinion
Changjiang Securities Underwriting and Sponsorship Co., Ltd. (hereinafter referred to as "Changjiang Securities" or "the Financial Advisor") has been entrusted by Changjiang Industrial Investment Group Co., Ltd. (hereinafter referred to as "Changjiang Industrial Group") to act as its financial advisor for the acquisition of Xiangyang Automobile Bearing Co., Ltd. (hereinafter referred to as "Xiangyang Bearing" or "the Listed Company"). According to Article 69 and Article 71 of the "Measures for the Administration of Acquisitions of Listed Companies" (hereinafter referred to as "Acquisition Measures") and Article 31 of the "Administrative Measures for Financial Advisory Services in Mergers and Acquisitions of Listed Companies," the continuous supervision period lasts from the announcement of the acquisition report by the listed company until 12 months after the acquisition is completed (i.e., from January 8, 2025, to February 13, 2027, hereinafter referred to as "the Continuous Supervision Period"). On April 28, 2026, the listed company disclosed its 2025 annual report and related announcements. Based on the aforementioned periodic reports and daily communications, the Financial Advisor issues this continuous supervision opinion. As the financial advisor for this acquisition, the continuous supervision opinion provided by Changjiang Securities is based on the assumption that all parties involved in the acquisition will fully perform their responsibilities according to the relevant agreement terms and commitments. The Financial Advisor makes the following statements:
- The documents, materials, and other relevant information on which this report is based are assumed to be true, accurate, and complete, with no false records, misleading statements, or significant omissions; the Financial Advisor makes no commitments or guarantees regarding the aforementioned materials and opinions.
- This report does not constitute any investment advice for the listed company, and the Financial Advisor bears no responsibility for any risks arising from investment decisions made by investors based on this report.
- The Financial Advisor has acted in good faith and with due diligence, following the prescribed procedures, aiming to express opinions during this continuous supervision period. The content of the opinions is limited to what is stated in this report, and unless otherwise required by the China Securities Regulatory Commission, no opinions are expressed on other aspects related to this acquisition.
- The Financial Advisor has not commissioned or authorized any other institutions or individuals to provide information not included in this report or to interpret or explain this report.
- The Financial Advisor emphasizes that investors should carefully read this report and other relevant announcements issued by other institutions regarding this acquisition.