CITIC Securities Co., Ltd.
Audit Opinion on Hangzhou Fu'en Co., Ltd.'s 2026 Annual Routine Related Transaction Forecast
CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "Sponsor") is the sponsor of Hangzhou Fu'en Co., Ltd. (hereinafter referred to as "Fu'en Shares" or "the Company") for its initial public offering of shares on the main board and its continuous supervision. Based on the requirements of the "Administrative Measures for Securities Issuance and Listing Sponsorship Business," the "Shenzhen Stock Exchange Stock Listing Rules," the "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 1 - Norms for Main Board Listed Companies," and other relevant laws, regulations, and normative documents, CITIC Securities has audited the forecast of routine related transactions for Fu'en Shares in 2026. The audit findings and opinions are as follows:
I. Basic Situation of Routine Related Transactions
(I) Overview of Routine Related Transactions
Based on the needs of normal business operations, the Company and its subsidiaries forecast that in 2026, they will have related purchase transactions with Zhejiang Zhengkai Group Co., Ltd. and its subsidiaries amounting to RMB 80 million, and related sales transactions amounting to RMB 10 million.
On April 27, 2026, the Company held its 18th meeting of the first Board of Directors, which deliberated and approved the "Proposal on the Forecast of Routine Related Transactions for 2026" with 9 votes in favor, 0 votes against, and 0 abstentions. The Company and its subsidiaries forecast related transactions arising from normal business operations. The validity period of this routine related transaction quota is from the date of deliberation and approval by the 2025 Annual Shareholders' Meeting to the date of the 2026 Annual Shareholders' Meeting. On March 2, 2026, the Company held the second special meeting of independent directors of the first Board of Directors in 2026, which deliberated and approved the "Proposal on the Forecast of Routine Related Transactions for 2026." All independent directors unanimously agreed to submit the aforementioned proposal to the Company's Board of Directors for deliberation. In accordance with the "Shenzhen Stock Exchange Stock Listing Rules" and other relevant laws and regulations, this related transaction needs to be submitted to the Company's Shareholders' Meeting for deliberation and approval, and related shareholders should abstain from voting.