Aijian Securities Co., Ltd.
Audit Opinion on the Lifting of Lock-up and Listing of Shares for Shanghai Shenkai Petrochemical Equipment Co., Ltd.'s 2025 Private Placement
Aijian Securities Co., Ltd. ("Aijian Securities" or "Sponsor"), as the sponsor for Shanghai Shenkai Petrochemical Equipment Co., Ltd. ("Shenkai Co." or "Company")'s 2025 private placement, has conducted a thorough review in accordance with the "Administrative Measures for Securities Issuance and Listing Sponsorship Business," the "Stock Listing Rules of the Shenzhen Stock Exchange," and the "Shenzhen Stock Exchange Main Board Listed Company Regulatory Guidelines No. 1 - Standardized Operation of Main Board Listed Companies," and other relevant regulations. The review covers the lifting of lock-up and listing of shares for Shenkai Co.'s 2025 private placement. The findings and opinions are as follows:
I. Overview of the 2025 Private Placement and Changes in Total Share Capital
(I) Overview of the 2025 Private Placement
Approved by the China Securities Regulatory Commission's "Approval on the Registration of Shanghai Shenkai Petrochemical Equipment Co., Ltd.'s Private Placement to Specific Objects" (CSRC License (2025) No. 2646), the Company issued 26,128,266 A shares to 7 specific objects at a price of RMB 8.42 per share. These newly issued shares were listed on the main board of the Shenzhen Stock Exchange on December 26, 2025. Upon completion of this issuance, the Company's total share capital increased from 363,909,648 shares to 390,037,914 shares.
(II) Changes in Total Share Capital After Share Issuance
On April 15, 2026, the Company disclosed the "Announcement on the Completion of Share Buyback Cancellation and Changes in Share Capital" (Announcement No.: 2026-018). Due to the cancellation of 1.42 million repurchased shares, the Company's total number of shares decreased from 390,037,914 shares to 388,617,914 shares, and the corresponding industrial and commercial registration changes were completed.
As of the date of this audit opinion, the Company's total share capital is 388,617,914 shares, of which: restricted tradable shares are 55,945,068 shares, accounting for 14.40% of the total share capital; unrestricted tradable shares are 332,672,846 shares, accounting for 85.60% of the total share capital.
II. Commitments of Shareholders Applying for Lock-up Release and Fulfillment of Commitments
A total of 7 shareholders are applying for the lifting of their share lock-up. They are: Cango Fund Management Co., Ltd., Luhuadaosheng (Beijing) Enterprise Management Co., Ltd., Yimi Fund Management Co., Ltd., Nord Fund Management Co., Ltd., Huian Securities Asset Management Co., Ltd., Donghai Fund Management Co., Ltd., and Hunan Qingshan Venture Capital Management Co., Ltd. - Qingshan Smart Choice No. 15 Private Equity Investment Fund.
These shareholders have committed: "This company will, in accordance with the 'Administrative Measures for Securities Issuance Registration of Listed Companies,' the 'Stock Listing Rules of the Shenzhen Stock Exchange,' and other relevant requirements, commit that the shares obtained through this private placement will be locked up for 6 months from the date of completion of the subscription (referring to the listing date of the newly issued shares) and will not be transferred during this period. During the lock-up period, the entrusted parties and partners shall not transfer their product shares or withdraw from the partnership. Shares derived from stock dividends, capital reserve increases, etc., distributed by the listed company from the shares obtained in this placement shall also comply with the above lock-up arrangements. They will be handled in accordance with the relevant regulations of the China Securities Regulatory Commission and the Shenzhen Stock Exchange upon the expiration of the lock-up period. If there are other lock-up period regulations for shares held by specific objects of this private placement according to laws and regulations, those regulations shall prevail."