Verification Opinion of CITIC Securities Co., Ltd. on Hubei Energy Group Co., Ltd.'s Temporary Use of Idle Raised Funds for Working Capital
CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "the Sponsor") is the sponsor for Hubei Energy Group Co., Ltd. (hereinafter referred to as "Hubei Energy" or "the Company") regarding the issuance of stocks to specific targets in 2024. In accordance with relevant laws and regulations, including the "Regulations on the Management of Sponsorship for Securities Issuance and Listing," "Regulations on the Supervision of Raised Funds by Listed Companies," "Shenzhen Stock Exchange Listing Rules," and "Self-Regulatory Guidelines No. 1 for Main Board Listed Companies," CITIC Securities has conducted a prudent review of Hubei Energy's plan to temporarily use idle raised funds for working capital. The specific circumstances are as follows:
1. Basic Situation of Raised Funds
According to the China Securities Regulatory Commission's approval (Zheng Jian Xu Ke [2025] No. 1971), the Company issued 597,938,144 ordinary shares to China Three Gorges Corporation at a price of 4.85 RMB per share, raising a total of 2,899,999,998.40 RMB. After deducting issuance costs of 5,299,041.15 RMB (excluding tax), the actual net amount raised is 2,894,700,957.25 RMB. The funds were transferred to the Company's special account for raised funds on October 17, 2025. Lixin Certified Public Accountants (Special General Partnership) verified the arrival of the raised funds and issued the "Verification Report of Hubei Energy Group Co., Ltd." (XK [2025] No. ZE23531). All raised funds are stored in a special account approved by the board of directors, and the Company has signed a supervision agreement for the raised funds with the Sponsor and the commercial bank holding the raised funds.