Legal Opinion on Zhejiang Wanma Co., Ltd.'s 2025 Annual General Meeting
To: Zhejiang Wanma Co., Ltd.
Beijing Dacheng (Hangzhou) Law Firm (hereinafter referred to as "the Firm") was entrusted by Zhejiang Wanma Co., Ltd. (hereinafter referred to as "the Company") to appoint lawyers from the Firm to attend the Company's 2025 Annual General Meeting (hereinafter referred to as "the Meeting"). In accordance with the "Company Law of the People's Republic of China" (hereinafter referred to as "the Company Law"), the "Rules for the Shareholders' Meetings of Listed Companies" (hereinafter referred to as "the Meeting Rules"), and other laws, regulations, and normative legal documents, as well as the "Articles of Association of Zhejiang Wanma Co., Ltd." (hereinafter referred to as "the Articles of Association"), the Firm hereby issues this legal opinion on the convening and holding procedures, attendee qualifications, convener qualifications, voting procedures, and voting results of the Company's Meeting.
To issue this legal opinion, the Firm's lawyers have reviewed the relevant matters involved in the Company's Meeting, examined the documents that the Firm's lawyers deem necessary for issuing this legal opinion, and conducted necessary verification and validation of the relevant issues.
This legal opinion is for the sole purpose of assessing the legality of the matters related to the Company's Meeting and shall not be used for any other purpose. The Firm's lawyers agree to have this legal opinion published together with the resolutions of the Company's Meeting and shall bear corresponding legal responsibilities for this legal opinion.
In accordance with the generally accepted professional standards, ethical norms, and diligent and responsible spirit of the legal profession, the Firm's lawyers have verified and validated the relevant materials and facts of the Meeting and hereby express their legal opinions as follows:
I. Convening and Holding Procedures of the Meeting
Upon verification by the Firm's lawyers, the Company's Board of Directors issued a notice on the convening of the Meeting on April 23, 2026, on the Juchao Information Network (www.cninfo.com.cn). The notice specified the attendees of the Meeting, the time, place, and method of convening, as well as the matters to be deliberated, and explained the qualifications of shareholders or their authorized representatives to attend and vote, the registration time and place for attendees, and the registration methods.
The Meeting was held through a combination of on-site voting and online voting. According to the meeting notice, the on-site meeting was held at 14:30 on May 13, 2026. The online voting period was: for online voting through the Shenzhen Stock Exchange trading system, the specific times were May 13, 2026, from 9:15-9:25, 9:30-11:30, and 13:00-15:00; for voting through the Shenzhen Stock Exchange internet voting system, the specific times were any time between 9:15 and 15:00 on May 13, 2026.
Upon verification by the Firm's lawyers, the Meeting was held at 14:30 on May 13, 2026, in the conference room on the 6th floor of the Wanma Innovation Park Office Building, No. 2159 Qingshan Lake Avenue, Lin'an District, Hangzhou City, Zhejiang Province. The time, place, and method of convening the Meeting were consistent with the meeting notice. The Meeting provided an online voting platform as per the meeting notice.
Upon verification by the Firm's lawyers, the convening and holding procedures of the Meeting comply with the provisions of the "Company Law," "Meeting Rules," and other laws, regulations, normative legal documents, and the "Articles of Association."