Special Explanation on the Fund Occupation by Controlling Shareholders and Other Related Parties
Zandar Certified Public Accountants LLP
Special Explanation No. 260000091
To all shareholders of Shenzhen Walden Materials Co., Ltd.:
We have been entrusted to audit the financial statements of Shenzhen Walden Materials Co., Ltd. (hereinafter referred to as "Walden Materials") for the year 2025, including the consolidated and parent company balance sheets as of December 31, 2025, the consolidated and parent company income statements, consolidated and parent company cash flow statements, and consolidated and parent company statements of changes in equity, along with the notes to the financial statements. We issued a standard unqualified audit report (No. 260000165) on March 31, 2026.