Audit Opinion of CITIC Securities Co., Ltd. on Hangzhou Fuen Co., Ltd.'s 2025 Internal Control Self-Assessment Report
CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "Sponsor") acted as the sponsor for the initial public offering and listing of Hangzhou Fuen Co., Ltd. (hereinafter referred to as "Fuen Shares" or "the Company") and its ongoing supervision. In accordance with the "Administrative Measures for Securities Issuance and Listing Sponsorship Business," the "Stock Listing Rules of the Shenzhen Stock Exchange," the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 1 - Normative Operation of Main Board Listed Companies," and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 13 - Sponsorship Business," among other relevant regulations, CITIC Securities has audited Fuen Shares' 2025 Internal Control Self-Assessment Report. The details and audit opinion are as follows:
I. Conclusion of the 2025 Internal Control Assessment
Based on the determination of material weaknesses in the Company's financial reporting internal controls, as of the base date of the internal control assessment report, there were no material weaknesses in financial reporting internal controls. The Board of Directors believes that the Company has maintained effective financial reporting internal controls in all material aspects in accordance with the requirements of the corporate internal control standard system and relevant regulations.