Hunan Boyun New Material Co., Ltd. China Merchants Securities Co., Ltd. Report on the Special Audit of Fund Raising, Management, and Use of Hunan Boyun New Material Co., Ltd. in 2025
China Merchants Securities Co., Ltd. (hereinafter referred to as "China Merchants Securities" or "Sponsor") is the sponsor institution for the non-public offering of shares and continuous supervision of Hunan Boyun New Material Co., Ltd. (hereinafter referred to as "Boyun New Material" or "the Company"). According to the "Shenzhen Stock Exchange Main Board Listed Company Self-Regulatory Supervision Guidelines No. 1 - Norms for Operations of Main Board Listed Companies," "Administrative Measures for Securities Issuance and Listing Sponsorship Business," "Shenzhen Stock Exchange Stock Listing Rules," and "Shenzhen Stock Exchange Listed Company Self-Regulatory Supervision Guidelines No. 13 - Sponsorship Business," etc., China Merchants Securities and its designated sponsor representatives have conducted a special audit on the fund raising, management, and use of Boyun New Material's raised funds in 2025. The audit findings and opinions are as follows:
I. Basic Situation of Raised Funds
(I) Actual Amount of Raised Funds and Time of Arrival
Approved by the China Securities Regulatory Commission's "Approval for Hunan Boyun New Material Co., Ltd.'s Non-Public Offering of Shares" (Zhengjian Xu Ke [2021] No. 1468), the Company issued 101,789,774 ordinary shares of RMB (A shares) through a non-public offering, with an issue price of RMB 6.20 per share. As of July 14, 2021, the Company had received the subscribed share capital from shareholders, after deducting part of the sponsorship and underwriting fees, transferred by the lead underwriter China Merchants Securities Co., Ltd., amounting to RMB 628,096,598.80. The total amount of raised funds for this non-public offering of shares by the Company is RMB 631,096,598.80. After deducting expenses related to this offering of RMB 4,936,792.42 (excluding VAT), the net amount of raised funds is RMB 626,159,806.38. The arrival of these raised funds has been audited by Tianzhi International Certified Public Accountants (Special General Partnership), which issued an "Audit Report" (Tian Zhi Zi [2021] No. 35246) on July 15, 2021.