Report of CITIC Securities Co., Ltd. Regarding North Huachuang Technology Group Co., Ltd.'s 2025 Special Audit Report on the Status of Fund Raising, Management, and Use
As the sponsor of North Huachuang Technology Group Co., Ltd. (hereinafter referred to as "North Huachuang" or "the Company") for its 2019 and 2021 non-public offerings, CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "the Sponsor") has, in accordance with the "Administrative Measures for Securities Issuance and Listing Sponsorship," the "Supervisory Rules for Listed Company Fundraising," the "Stock Listing Rules of the Shenzhen Stock Exchange," and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 13 – Sponsorship Business," and other relevant regulations, audited the status of North Huachuang's fundraising, management, and use for 2025. The specific situation is as follows:
I. Basic Situation of Fund Raising
(1) Status of Fund Raising Proceeds
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2019 Non-Public Offering Fundraising Project As approved by the China Securities Regulatory Commission's "Approval for North Huachuang Technology Group Co., Ltd.'s Non-Public Offering of Shares" (Zheng Jian Xu Ke [2019] No. 1949), the Company issued 32,642,401 shares of RMB common stock (A shares) at an issuance price of RMB 61.27 per share. The total fundraising amount was RMB 1,999,999,909.27. After deducting issuance expenses of RMB 18,676,795.76, the net amount of raised funds was RMB 1,981,323,113.51. The funds were received on November 18, 2019. The status of fund raising was audited by Shinewing Certified Public Accountants (Special General Partnership), who issued the Shinewing Verification Report (2019) No. 010631-2.
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2021 Non-Public Offering Fundraising Project As approved by the China Securities Regulatory Commission's "Approval for North Huachuang Technology Group Co., Ltd.'s Non-Public Offering of Shares" (Zheng Jian Xu Ke [2021] No. 2710), the Company issued 27,960,526 shares of RMB common stock (A shares) at an issuance price of RMB 304.00 per share. The total fundraising amount was RMB 8,499,999,904.00. After deducting issuance expenses of RMB 47,913,170.30, the net amount of raised funds was RMB 8,452,086,733.70. The funds were received on October 14, 2021. The status of fund raising was audited by Shinewing Certified Public Accountants (Special General Partnership), who issued the Shinewing Verification Report (2021) No. 010990.
(2) 2025 Fundraising Use and Balance Status
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2019 Non-Public Offering Fundraising Project As of December 31, 2025, the cumulative amount of raised funds used for the Company's fundraising projects was RMB 1,982,232,993.51, of which RMB 1,978,534,181.34 was used in previous years and RMB 3,698,812.17 was used in the current year. The Company's dedicated fundraising account received bank interest of RMB 170,439.08 and paid bank handling fees of RMB 530.00 in the current year. Cumulative bank interest received was RMB 27,984,961.56, and cumulative bank handling fees paid were RMB 24,140.79. In previous years, RMB 500,000,000.00 of idle raised funds were temporarily used to supplement working capital, which has been fully repaid. As of December 31, 2025, the balance in the Company's dedicated fundraising account was RMB 26,368,881.07.
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2021 Non-Public Offering Fundraising Project As of December 31, 2025, the cumulative amount of raised funds used for the Company's fundraising projects was RMB 7,198,289,675.06, of which RMB 6,732,662,188.80 was used in previous years and RMB 465,627,486.26 was used in the current year. The Company's dedicated fundraising account received bank interest of RMB 3,421,511.33 and paid bank handling fees of RMB 241.55 in the current year. Cumulative bank interest received was RMB 126,408,533.37, and cumulative bank handling fees paid were RMB 13,403.32. In previous years, RMB 7,280,000,000.00 of idle raised funds were temporarily used to supplement working capital, which has been fully repaid. In the current year, the board of directors approved the temporary use of RMB 1,250,000,000.00 of idle raised funds to supplement working capital. As of December 31, 2025, the balance in the Company's dedicated fundraising account was RMB 127,317,398.46.