Huatai United Securities HUATAI UNITED SECURITIES Huatai United Securities Co., Ltd. On-site Inspection Report Report on the On-site Inspection of Shandong Hongqiao Aluminum Holdings Co., Ltd. in 2025 According to the "Administrative Measures for Major Asset Restructuring of Listed Companies" and other relevant laws and regulations, Huatai United Securities Co., Ltd., as the independent financial advisor for the issuance of shares by Shandong Hongqiao Aluminum Holdings Co., Ltd. (hereinafter referred to as "Hongqiao Holdings" or "the Company") to purchase assets and related party transactions, conducted an on-site inspection of Shandong Hongqiao Aluminum Holdings Co., Ltd.'s 2025 situation from March 2 to March 6, 2026. The report is as follows: Name of Independent Financial Advisor: Huatai United Securities Co., Ltd. Name of Independent Financial Advisor Lead: Huang Tao Name of Independent Financial Advisor Lead: Zhang Tao Name of Independent Financial Advisor Lead: He Nanqi Name of On-site Inspection Personnel: Huang Tao On-site Inspection Period: 2025 Fiscal Year On-site Inspection Time: March 2 to March 6, 2026 Company Name: Hongqiao Holdings Contact Number: 010-56839300 Contact Number: 010-56839300 Contact Number: 010-56839300 I. On-site Inspection Items (I) Corporate Governance On-site Inspection Opinion Yes No Not Applicable On-site Inspection Methods: (1) Conducted on-site inspection of the company's main business premises; (2) Reviewed Hongqiao Holdings' articles of association, rules of procedure for shareholders' meetings and board of directors, and other company governance-related system documents; (3) Reviewed relevant shareholders' meetings, board of directors' meetings, and other meeting materials; (4) Reviewed company information disclosure documents and other materials and interviewed relevant personnel; (5) Verified changes in controlling shareholders, actual controllers, and their external investment situations.
- Are the company's articles of association and corporate governance system complete and compliant? √
- Are the company's articles of association and the rules of procedure for shareholders' meetings and board of directors effectively implemented? √
- Are the minutes of shareholders' meetings and board of directors' meetings complete, with consistent time, place, attendees, meeting content, and preserved meeting materials? √
- Are the resolutions of shareholders' meetings and board of directors' meetings signed by the attending members? √
- Do the company's directors and senior management personnel perform their duties in accordance with relevant laws, regulations, and Shenzhen Stock Exchange business rules? √
- If there are major changes in the company's directors and senior management personnel, have the corresponding procedures and information disclosure obligations been fulfilled? √ (The company completed the election of the board of directors and the appointment of senior management personnel on January 27, 2026)
- If there are changes in the company's controlling shareholder or actual controller, have the corresponding procedures and information disclosure obligations been fulfilled? √ (Due to the company's share issuance for asset purchase, new shares were listed on January 2026. The controlling shareholder changed from Shandong Hongqiao New Material Co., Ltd. to Shandong Weiqiao Aluminum Electricity Co., Ltd., and the actual controller did not change.)
- Are the company's personnel, assets, finances, organization, and business independent? √
- Is there no horizontal competition between the company and its controlling shareholder and actual controller? √ (See "II. On-site Inspection Findings and Explanations" for "1,") (II) Internal Control On-site Inspection Methods: (1) Reviewed the company's internal audit system, internal audit department's internal audit reports, and other relevant documents; (2) Reviewed the company's audit committee work rules and audit committee meeting documents; (3) Interviewed relevant personnel.
- Has an internal audit system been established and an internal audit department set up in accordance with relevant regulations (if applicable)? √
- Has an internal audit system been established and an internal audit department set up within six months of the company's stock listing (if applicable)? √ (The company established an internal audit system and set up an internal audit department before its stock listing)
- Are the personnel structures of the internal audit department and the audit committee compliant (if applicable)? √
- Does the audit committee convene at least once per quarter to review the internal audit department's work plan and reports (if applicable)? √
- Does the audit committee report to the board of directors at least once per quarter on the progress, quality, and major issues found in the internal audit work (if applicable)? √
- Does the internal audit department report to the audit committee at least once per quarter on the execution of the internal audit work plan and the problems found during the internal audit work (if applicable)? √
- Does the internal audit department audit the storage and use of raised funds at least once per quarter (if applicable)? √
- Does the internal audit department submit the next year's internal audit work plan to the audit committee within two months before the end of each fiscal year (if applicable)? √
- Does the internal audit department submit the annual internal audit work report to the audit committee within two months after the end of each fiscal year (if applicable)? √
- Does the internal audit department submit an internal control evaluation report to the audit committee at least once a year (if applicable)? √
- Has a complete and compliant internal control system been established for matters such as investment in venture capital, entrusted wealth management, and hedging? √ (III) Information Disclosure On-site Inspection Methods: (1) Reviewed the company's information disclosure management system; (2) Reviewed company shareholders' meetings, board of directors' meetings, and other meeting materials, information disclosure documents, and cross-referenced relevant basic materials; (3) Reviewed the Shenzhen Stock Exchange's relevant information disclosure website and investor relations activity records.
- Is the company's disclosed information consistent with the actual situation? √
- Is the company's disclosed information complete? √
- Have the company's disclosed matters not undergone major changes or achieved significant progress? √
- Are there no major undisclosed matters that should be disclosed? √
- Do the processes for transmitting and disclosing major information, and the confidentiality measures, comply with the company's information disclosure management system? √
- Are the investor relations activity records published on the Shenzhen Stock Exchange's interactive website in a timely manner? √ (IV) Establishment and Implementation of Long-term Mechanism for Protecting Company Interests from Infringement On-site Inspection Methods: (1) Reviewed the company's related party transaction decision-making system, external guarantee management system, and other relevant internal company regulations; (2) Reviewed the company's periodic reports and related party transaction materials; (3) Reviewed meeting materials and information disclosure documents concerning the deliberation of related party transactions and external guarantees; (4) Interviewed relevant personnel.
- Has a system been established to prevent the controlling shareholder, actual controller, and other related parties from directly or indirectly occupying the company's funds or other resources? √
- Controlling shareholder, actual controller, and other √