The Board of Directors of Shanghai New Frontier Industrial Co., Ltd. Special Report on the Self-Inspection of Independent Directors' Independence
In accordance with the "Administrative Measures for Independent Directors of Listed Companies," the "Shenzhen Stock Exchange Stock Listing Rules," and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 1 - Norms for the Operation of Main Board Listed Companies," the Board of Directors of Shanghai New Frontier Industrial Co., Ltd. (hereinafter referred to as the "Company") has, in conjunction with the resumes of incumbent independent directors Huang Yongjin, Wang Huaigang, and Cheng Bo, and the self-inspection documents they have signed, assessed their independence and hereby issues the following special opinion:
Upon review, as of the date of this opinion, the incumbent independent directors of the Company, Huang Yongjin, Wang Huaigang, and Cheng Bo, do not hold any positions in the Company other than independent director, nor do they hold any positions in the Company's major shareholders. They have no relationship of interest with the Company or its major shareholders, or other relationships that may hinder their independent and objective judgment. There are no circumstances that prevent them from independently performing their duties. Their independence complies with the requirements of the "Administrative Measures for Independent Directors of Listed Companies," the "Shenzhen Stock Exchange Stock Listing Rules," and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 1 - Norms for the Operation of Main Board Listed Companies."