CITIC Securities Co., Ltd.
Audit Report on Impairment Testing of Underlying Assets for Shandong Hongqiao Aluminum Holdings Co., Ltd.'s Share Issuance and Asset Acquisition and Related Party Transaction
CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "Independent Financial Advisor"), as the independent financial advisor for Shandong Hongqiao Aluminum Holdings Co., Ltd. (hereinafter referred to as "Hongqiao Holdings" or "the Company")'s issuance of shares to purchase assets and related party transaction (hereinafter referred to as "this Transaction"), has, in accordance with the "Company Law of the People's Republic of China," "Securities Law of the People's Republic of China," "Administrative Measures for the Registration of Securities Issuance by Listed Companies," "Administrative Measures for Major Asset Restructuring of Listed Companies," and "Administrative Measures for Financial Advisors in Mergers and Acquisitions of Listed Companies," audited the impairment testing of the underlying assets for Hongqiao Holdings' transaction. The details are as follows:
I. Basic情况 of This Transaction
On December 31, 2025, the Company received the "Approval on the Registration of Shandong Hongqiao Aluminum Holdings Co., Ltd.'s Issuance of Shares to Purchase Assets" (Zheng Jian Xu Ke (2025) No. 2970) from the China Securities Regulatory Commission. The 100% equity of Shandong Hongtuo Industrial Co., Ltd. (hereinafter referred to as "the Target Company") involved in this transaction was transferred to the Company on December 31, 2025, and the Company's newly issued shares were listed on January 13, 2026.