CITIC Securities Co., Ltd. Audit Opinion on the Lifting of Lock-up Restrictions for Partial Restricted Shares of Xinjiang Beixin Road & Bridge Heavy Industry Co., Ltd. for Issuance to Specific Targets
CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "the Sponsor"), as the sponsor for Xinjiang Beixin Road & Bridge Heavy Industry Co., Ltd. (hereinafter referred to as "Beixin Road & Bridge" or "the Company" or "the Issuer") issuing shares to specific targets, has conducted a thorough and prudent 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 Listed Company Self-Regulatory Management Guidelines No. 1 - Norms for the Operation of Main Board Listed Companies," and other relevant regulations, on the matter of lifting lock-up restrictions and listing of a portion of restricted shares issued by the Company to specific targets, and hereby issues the following audit opinion:
I. Situation of Issuance to Specific Targets
According to the "Approval on the Registration of Xinjiang Beixin Road & Bridge Heavy Industry Co., Ltd. for Issuance of Shares to Specific Targets" issued by the China Securities Regulatory Commission (Document No. [2025] 1925), the Company issued 380,487,474 ordinary shares (A shares) to specific targets at an issuance price of RMB 4.07 per share. The total amount raised was RMB 1,548,584,019.18, and the net amount raised was RMB 1,532,236,775.42.
The new shares issued to specific targets, totaling 380,487,474 shares, were listed on December 26, 2025. Among these, shares subscribed by the Company's controlling shareholder, Xinjiang Production and Construction Corps Construction Engineering (Group) Co., Ltd. (hereinafter referred to as "Bingdan Construction Engineering Group"), are subject to a lock-up period of 18 months from the date of issuance and listing. Shares subscribed by other specific targets are subject to a lock-up period of 6 months from the date of issuance and listing. After this issuance, the Company's total share capital increased to 1,648,779,056 shares. The specific issuance details for this issuance to specific targets are as follows: