Audit Report
[Document Number: Youzhen Shen Zi [2026] No. 0515]
To the shareholders of Rongfa Nuclear Power Equipment Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Rongfa Nuclear Power Equipment Co., Ltd. (hereinafter referred to as "Rongfa Nuclear Power" or "the Company"), which comprise the consolidated and parent company balance sheets as of December 31, 2025, the consolidated and parent company income statements, consolidated and parent company cash flow statements, consolidated and parent company statements of changes in owners' equity for the year ended December 31, 2025, and a summary of significant accounting policies and other explanatory notes.
In our opinion, the accompanying financial statements present fairly, in all material respects, the consolidated and parent company financial position of Rongfa Nuclear Power as of December 31, 2025, and the consolidated and parent company results of operations and cash flows for the year then ended in accordance with the provisions of the Enterprise Accounting Standards.
II. Basis for Audit Opinion
We conducted our audit in accordance with the Standards on Auditing of the Chinese Institute of Certified Public Accountants. Our responsibilities under those standards are further described in the "Auditor's Responsibilities for the Audit of the Financial Statements" section of our report. We are independent of Rongfa Nuclear Power in accordance with the Code of Professional Ethics of Certified Public Accountants and the Independent Standards for Financial Statement Audits and Reviews No. 1 issued by the Chinese Institute of Certified Public Accountants, and we have fulfilled our other ethical responsibilities in accordance with the Code of Professional Ethics. We have complied with the special requirements for independence of auditors of public interest entities. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
III. Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements for the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, we do not provide a separate opinion on these matters.