Caitong Securities Co., Ltd. (hereinafter referred to as "Caitong Securities" or "the Sponsor") is the sponsor for Zhejiang Bofei Electric Co., Ltd. (hereinafter referred to as "Bofei Electric" or "the Company") regarding the simplified procedure for issuing stocks to specific targets in 2025. In accordance with the relevant laws, regulations, and normative documents such as the "Administrative Measures for the Sponsorship of Securities Issuance and Listing," "Shenzhen Stock Exchange Stock Listing Rules," "Regulations on the Supervision of Fundraising by Listed Companies," and "Self-Regulatory Guidelines for Listed Companies on the Shenzhen Stock Exchange No. 1 - Standard Operation of Main Board Listed Companies," Caitong Securities conducted a verification of Bofei Electric's use of raised funds to replace pre-invested self-financed amounts for projects and paid issuance costs. The specific verification details are as follows:
1. Basic Situation of Raised Funds
According to the China Securities Regulatory Commission's approval (Zheng Jian Xu Ke [2025] No. 2432) for Zhejiang Bofei Electric Co., Ltd. to issue stocks to specific targets, the Company issued 5,166,184 shares of ordinary shares (A shares) at a price of RMB 27.68 per share, raising a total of RMB 142,999,973.12. After deducting related issuance costs, the actual net amount raised was RMB 137,558,822.86. The raised funds have been verified by Zhongxi Accounting Firm (Special General Partnership), which issued the "Verification Report" (Zhongxi Yan Zi [2025] Y00097). The Company has stored the raised funds in a special account and signed a "Three-Party Supervision Agreement on Raised Funds" with the special account bank and the sponsor as required.
2. Investment Project Situation of Raised Funds
According to the "Zhejiang Bofei Electric Co., Ltd. 2025 Annual Simplified Procedure for Issuing Stocks to Specific Targets Prospectus (Registration Draft)" (hereinafter referred to as "the Prospectus") and the actual situation of the raised funds, the net amount of raised funds after deducting related issuance costs will be used for the following project:
| Project Name | Total Investment | Amount of Raised Funds to be Invested |
|---|---|---|
| Annual Production of 70,000 Tons of Motor Insulation Materials Project | 263,102.40 | 137,558.82 |
| Total | 263,102.40 | 137,558.82 |
3. Pre-Investment of Self-Financed Funds and Paid Issuance Costs
(1) Pre-Investment of Self-Financed Funds
As of November 18, 2025, the actual investment amount of self-financed funds pre-invested in the fundraising project was RMB 38,447,100. The amount to be replaced by raised funds is RMB 38,447,100, with specific details as follows: