002305SZSE

2025 Annual Internal Control Audit Report

*ST Nan Zhi Co., Ltd.·

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This report presents the results of the internal control audit for Nanguo Real Estate Co., Ltd. for the year ended December 31, 2025. The audit was conducted by BDO China Shu Lun Pan Certified Public Accountants LLP. The report concludes that Nanguo Real Estate maintained effective financial reporting internal controls in all material respects as of December 31, 2025.

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Nanguo Real Estate Co., Ltd. Internal Control Audit Report

Table of Contents

● Internal Control Audit Report Page 1-2

BDO CHINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTANTS LLP Internal Control Audit Report

To the shareholders of Nanguo Real Estate Co., Ltd.:

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In accordance with the "Audit Guidelines for Internal Control of Enterprises" and the requirements of the Chinese Certified Public Accountants' professional standards, we have audited the effectiveness of the financial reporting internal controls of Nanguo Real Estate Co., Ltd. (hereinafter referred to as Nanguo Real Estate) as of December 31, 2025.

I. The Company's Responsibility for Internal Control

In accordance with the "Basic Norms for Enterprise Internal Control," "Application Guidelines for Enterprise Internal Control," and "Evaluation Guidelines for Enterprise Internal Control," it is the responsibility of the board of directors of Nanguo Real Estate to establish, improve, and effectively implement internal control, and to evaluate its effectiveness.

II. The Responsibility of the Certified Public Accountant

Our responsibility is to express an audit opinion on the effectiveness of financial reporting internal controls based on the implementation of audit work, and to disclose any significant deficiencies in non-financial reporting internal controls that we have noted.

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