001390SZSE

Guosen Securities Co., Ltd.'s Audit Opinion on Anhui Gulun Wool Material Co., Ltd.'s 2025 Raised Funds Deposit, Management, and Usage

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Guosen Securities audited Anhui Gulun Wool Material's 2025 raised funds. The company raised RMB 604 million, with net proceeds of RMB 534.78 million after expenses. As of December 31, 2025, RMB 24.71 billion had been used, with RMB 28.95 billion remaining. The audit confirmed compliance with regulations.

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Guosen Securities Co., Ltd.

Audit Opinion on Anhui Gulun Wool Material Co., Ltd.'s 2025 Raised Funds Deposit, Management, and Usage

Guosen Securities Co., Ltd. (hereinafter referred to as "Guosen Securities" or "the Sponsor"), as the sponsor for the initial public offering of Anhui Gulun Wool Material Co., Ltd. (hereinafter referred to as "Gulun Wool Material" or "the Company"), according to the "Administrative Measures for Securities Issuance and Listing Sponsorship Business," "Supervision Rules for Listed Company Raised Funds," "Shenzhen Stock Exchange Stock Listing Rules," "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 1 - Normative Operation of Main Board Listed Companies," and other relevant regulations, has audited the deposit, management, and usage of raised funds by Gulun Wool Material in 2025. The details are as follows:

I. Basic Situation of Raised Funds

(I) Amount of Raised Funds and Arrival Status

According to the "Approval of the Registration of Initial Public Offering of Shares of Anhui Gulun Wool Material Co., Ltd." issued by the China Securities Regulatory Commission (Certificate of Approval No. [2025] 397), Gulun Wool Material was approved to issue 50 million shares of RMB ordinary shares (A shares) at an issuance price of RMB 12.08 per share. The total raised funds amounted to RMB 604 million. After deducting issuance-related expenses of RMB 6.92212 million (excluding VAT), the net raised funds amounted to RMB 534.7788 million. The raised funds were transferred to the Company's special account for raised funds on May 23, 2025. On the same day, Lixin Certified Public Accountants (Special General Partnership) audited the arrival of the raised funds from the initial public offering and issued an auditor's report No. [2025] ZA14298.

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