Beijing Kunyuan Zhicheng Assets Appraisal Co., Ltd.
Regarding the Shenzhen Stock Exchange
"Review Inquiry Letter on Hunan Hualing Cable Co., Ltd.'s Application for Issuing Convertible Corporate Bonds to Purchase Assets and Raise Supporting Funds"
Special Verification Opinions on the Reply
(Revision)
KYCPV
Beijing KYSIN Assets Appraisal Co., Ltd.
April 2026
Response to the "Review Inquiry Letter on Hunan Hualing Cable Co., Ltd.'s Application for Issuing Convertible Corporate Bonds to Purchase Assets and Raise Supporting Funds"
Shenzhen Stock Exchange:
Beijing Kunyuan Zhicheng Assets Appraisal Co., Ltd. (hereinafter referred to as "the Appraisal Institution" or "Kunyuan Zhicheng") has been entrusted by Hunan Hualing Cable Co., Ltd. (hereinafter referred to as "the Listed Company," "the Company," or "Hualing Cable") to act as the appraisal institution for the Company's issuance of convertible corporate bonds to purchase assets and raise supporting funds, as well as for the related party transactions (hereinafter referred to as "this transaction"). In accordance with the requirements of your issued "Review Inquiry Letter on Hunan Hualing Cable Co., Ltd.'s Application for Issuing Convertible Corporate Bonds to Purchase Assets and Raise Supporting Funds" (Review Letter [2026] No. 130004) (hereinafter referred to as "the Review Inquiry Letter"), we, together with the Listed Company and relevant intermediary institutions, have conducted a thorough discussion and analysis of the issues raised in the Review Inquiry Letter, and hereby present our verification opinions on the relevant matters (hereinafter referred to as "this Verification Opinion"). We submit it to your esteemed institution for review.