Verification Opinion of CITIC Securities Co., Ltd. on the Postponement of Certain Fundraising Projects of Beijing Beidou Xingtong Navigation Technology Co., Ltd.
According to relevant laws and regulations, CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "Sponsor") has conducted a prudent review of the postponement of certain fundraising projects, the addition of implementation entities, and the adjustment of internal investment structures for Beijing Beidou Xingtong Navigation Technology Co., Ltd. (hereinafter referred to as "Beidou Xingtong" or "Company"). The specific situation is as follows:
1. Basic Situation of Fundraising
With the approval from the China Securities Regulatory Commission regarding the registration of the issuance of A shares to specific objects (Zheng Jian Xu Ke [2023] No. 1075), the Company issued 31,374,501 ordinary shares (A shares) at a price of RMB 30.12 per share on June 26, 2023, raising a total of RMB 944,999,970.12, with a net amount of RMB 931,075,896.25. The funds were fully received by June 30, 2023, and verified by Dahua Certified Public Accountants (Special General Partnership), which issued Verification Report No. [2023]000399. The Company has opened a special account for the raised funds and signed a fundraising supervision agreement for dedicated storage and management.
2. Use of Fundraising
On October 23, 2024, the Company held the 10th meeting of the 7th Board of Directors and the 9th meeting of the 7th Supervisory Board, which approved the proposal to change part of the fundraising investment projects. This was subsequently approved by the fifth shareholders' meeting of 2024, agreeing to change part of the fundraising of RMB 170 million originally allocated for the "R&D Conditions Construction Project" to be used for the "Low-Power Beidou GNSS SoC Chip Development and Industrialization Project for IoT Applications." The announcement regarding this change (Announcement No. 2024-089) was published in the Company's designated information disclosure media. As of December 31, 2025 (unaudited), the use of funds raised from the issuance of shares to specific objects is as follows: