Legal Opinion of Grandall Law Firm (Hangzhou)
Address:
Grandall Building, No.2 & No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China
Tel: (+86)(571) 8577 5888
Fax: (+86)(571) 8577 5643
Email: grandallhz@grandall.com.cn
Website: http://www.grandall.com.cn
Date: May 2026
To: Hangzhou Fuen Co., Ltd.
Grandall Law Firm (Hangzhou) (hereinafter referred to as "this firm") has been entrusted by Hangzhou Fuen Co., Ltd. (hereinafter referred to as "the company" or "Fuen Co.") to appoint lawyers to attend the company's 2025 Annual General Meeting (hereinafter referred to as "this meeting") and to issue a legal opinion based on the provisions of the Company Law of the People's Republic of China (hereinafter referred to as "the Company Law"), the Securities Law of the People's Republic of China (hereinafter referred to as "the Securities Law"), the Rules for Shareholders' Meetings of Listed Companies issued by the China Securities Regulatory Commission (hereinafter referred to as "the Shareholders' Meeting Rules"), the Corporate Governance Guidelines (hereinafter referred to as "the Governance Guidelines"), and the Self-Regulatory Guidelines No. 1 for Listed Companies on the Shenzhen Stock Exchange (hereinafter referred to as "the Operational Guidelines"), as well as the current effective Articles of Association of Hangzhou Fuen Co., Ltd. (hereinafter referred to as "the Articles of Association") and the Rules of Procedure for Shareholders' Meetings (hereinafter referred to as "the Rules of Procedure for Shareholders' Meetings"). This opinion addresses matters such as the convening and holding procedures of this meeting, the qualifications of attendees, and the voting procedures.
To issue this legal opinion, the lawyers of this firm attended the company's meeting, reviewed the original and copies of relevant documents provided by the company regarding this meeting, including but not limited to the agenda and related resolutions, and listened to the company's statements and explanations regarding relevant facts. The company has assured this firm that the documents provided and the statements made are complete, true, and valid, that the originals and the signatures and seals thereon are authentic, and that all facts and documents that could affect this legal opinion have been disclosed to this firm without any concealment or omission.
Legal Opinion
The lawyers of this firm express legal opinions based solely on facts that occurred or existed prior to the issuance date of this legal opinion and in accordance with relevant laws, administrative regulations, normative documents, and the provisions of the Articles of Association. In this legal opinion, the lawyers only express opinions on the legality and validity of the voting procedures and results of this meeting, and do not express opinions on the content of the proposals discussed at the meeting or the authenticity and accuracy of the facts or data stated in those proposals. This legal opinion is intended solely for the purpose of witnessing the company's meeting and may not be used for any other purpose. This firm agrees that the company will use this legal opinion as part of the public disclosure materials for this meeting, along with other information that needs to be disclosed, and will bear legal responsibility for the legal opinions expressed herein.