Statement
CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "Independent Financial Advisor") has been entrusted to serve as the independent financial advisor for Hainan Strait Shipping Co., Ltd. (hereinafter referred to as "Strait Shipping", "the Company", or "the Listed Company") for the 2025 major asset purchase and connected transaction (hereinafter referred to as "this transaction" or "this reorganization").
This continuous supervision opinion is issued in accordance with the relevant provisions of the "Company Law of the People's Republic of China," "Securities Law of the People's Republic of China," "Administrative Measures for Major Asset Restructuring of Listed Companies," "Stock Listing Rules of the Shenzhen Stock Exchange," "Administrative Measures for Financial Advisory Business of Listed Company Mergers and Acquisitions," and other laws and regulations. It is issued in accordance with the recognized business standards, ethical norms, and principles of honesty, good faith, diligence, and responsibility in the securities industry, adhering to the principles of objectivity and fairness. After carefully reviewing relevant materials and fully understanding the implementation of this transaction, this independent financial advisor issues this continuous supervision opinion to provide an independent, objective, and fair evaluation of the implementation of this transaction for the reference of all shareholders and relevant parties of the listed company. This independent financial advisor hereby makes the following statements:
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The documents and materials on which this continuous supervision opinion is based are provided by all parties to this transaction. The providers are responsible for the truthfulness, accuracy, completeness, and timeliness of the provided information, and guarantee that the information contains no false statements, misleading representations, or material omissions, and shall bear corresponding legal responsibilities for the legality, truthfulness, accuracy, and completeness of the provided information. The independent financial advisor shall not bear the risk responsibility arising therefrom.
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The independent financial advisor has conducted due diligence on the facts on which this continuous supervision opinion is based and assumes the obligation of honesty, good faith, diligence, and responsibility for the truthfulness, accuracy, and completeness of the content of this continuous supervision opinion.
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This continuous supervision opinion does not constitute any investment advice for Strait Shipping. The independent financial advisor shall not bear any responsibility for the risks that investors may incur in making any investment decisions based on this continuous supervision opinion.
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The independent financial advisor has not entrusted or authorized any other institution or individual to provide information not listed in this continuous supervision opinion or to make any interpretation or explanation of this continuous supervision opinion.
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The independent financial advisor specifically reminds all investors to carefully read the relevant announcements issued by Strait Shipping regarding this reorganization and to consult relevant documents.
Table of Contents
Statement 2 Table of Contents 3 Definitions 4 I. Status of Delivery or Transfer of Transaction Assets 5 II. Fulfillment of Commitments by Parties to the Transaction 6 III. Realization of Publicly Announced Profit Forecasts or Income Forecasts 6 IV. Development Status of Various Businesses Mentioned in the Management Discussion and Analysis Section 6 V. Company Governance Structure and Operation 8 VI. Other Matters Wherein the Announced Reorganization Plan Differs 8
Definitions
In this continuous supervision opinion, unless otherwise indicated by the context, the following abbreviations have the following meanings: