About China Merchants Accumulation Industry Operation Service Co., Ltd Special explanation of non-operating capital occupation and other related capital transactions in 2025 December 31, 2025
KPMG Huazhen LLP 8th Floor, KPMG Tower (Special General Partnership) Oriental Plaza, Beijing, China 1 East Chang An Avenue 1 East Chang An Street Beijing 100738 8th Floor, KPMG Tower, Oriental Plaza China Postal code: 100738 Telephone +86 (10) 8508 5000 Telephone +86 (10) 8508 5000 Fax +86 (10) 8518 5111 Fax +86 (10) 8518 5111 Internet kpmg.com/cn URL kpmg.com/cn About China Merchants Accumulation Industry Operation Service Co., Ltd Special explanation of non-operating capital occupation and other related capital transactions in 2025 KPMG Huazhen Special Character No. 2600833 Board of Directors of China Merchants Accumulation Industry Operation Service Co., Ltd.: We were entrusted to audit China Merchants Jiyu Industrial Operation Services Co., Ltd. in accordance with the auditing standards of Chinese certified public accountants The financial statements of the Company (hereinafter referred to as "China Merchants Accumulation") for 2025, including the consolidated and parent assets as of December 31, 2025 Balance sheet, 2025 consolidated and parent income statement, consolidated and parent cash flow statement, consolidated and parent shareholders Statement of changes in equity and notes to the relevant financial statements, and an audit report with a standard unqualified opinion was issued on March 12, 2026 Report. According to the China Securities Regulatory Commission, the Ministry of Public Security of the People's Republic of China, and the State-owned Assets Supervision and Administration Commission of the State Council and the "Regulatory Guidelines for Listed Companies No. 8 - Capital Transactions of Listed Companies" issued by the China Banking and Insurance Regulatory Commission No. 8 Regulatory Requirements for External Guarantees" (CSRC Announcement [2022] No. 26) and the Shenzhen Stock Exchange issued the "Shenzhen Stock Exchange Municipal Company Self-Regulatory Guidelines No. 1 - Business Handling", China Merchants Accumulation has prepared the investment accumulation attached to this special instruction Summary table of non-operating capital occupation and other related fund transactions in 2025 (hereinafter referred to as the "summary table"). It is the responsibility of China Merchants Accumulation to prepare and disclose summary tables to the outside world, and ensure its authenticity, legality and completeness. We are to the exchange The project amounts contained in the summary table are the same as the accounting information and audited provided by China Merchants Accumulation when we audited the 2025 financial statements The relevant contents of the financial statements were checked and no inconsistencies were found in all material aspects. Page 1 of 2
About China Merchants Accumulation Industry Operation Services Co., Ltd 202 5 Special Explanation on Non-operating Capital Occupation and Other Related Fund Transactions (Continued) KPMG Huazhen Special Character No. 2600833 In order to better understand the occupation of non-operating funds and other related capital transactions in China Merchants Accumulation 2 02 5, a summary table
It should be read in conjunction with the audited financial statements. This special note is only used for the purpose of disclosure of the investment balance in the 2025 annual report, and shall not be used without the written consent of the Firm For any other purpose. KPMG Huazhen Certified Public Accountants (Special General Partnership) is a certified public accountant in China Liang Xinghua Liu Wanting Beijing, China March 12, 2026 Attachment China Merchants Accumulation Industry Operation Service Co., Ltd. 2025 non-operating capital occupation and other related funds to Summary table Page 2 of 2
China Merchants Accumulation Industry Operation Service Co., Ltd