ShineWing Certified Public Accountants
To the Shareholders of Shandong Hongqiao Aluminum Holdings Co., Ltd.:
We have audited the 2025 financial statements of Shandong Hongqiao Aluminum Holdings Co., Ltd. (hereinafter referred to as "Hongqiao Holdings"), including the consolidated and parent company balance sheets as of December 31, 2025, the consolidated and parent company income statements for 2025, the consolidated and parent company cash flow statements, the consolidated and parent company statements of changes in owners' equity, and the related financial statement notes. We issued an unqualified audit report XYZH/2026CQAA2B0009 on March 19, 2026.
In accordance with the "Shenzhen Stock Exchange Listed Companies Self-Regulatory Supervision Guidelines No. 1 - Business Handling" (hereinafter referred to as "Operating Revenue Deductions") and related regulations, Hongqiao Holdings has prepared the attached "Shandong Hongqiao Aluminum Holdings Co., Ltd. 2025 Operating Revenue Deductions Table" (hereinafter referred to as the "Operating Revenue Deductions Table").
It is Hongqiao Holdings' responsibility to prepare and disclose the Operating Revenue Deductions Table in accordance with the relevant regulations for operating revenue deductions, and to ensure its compliance, truthfulness, accuracy, and completeness.
We have reviewed the information contained in the Operating Revenue Deductions Table against the accounting materials and audited financial statements we examined when auditing Hongqiao Holdings' 2025 financial statements. In all material respects, we found no inconsistencies.