Duofudu New Materials Co., Ltd.
Independent Assurance Report on the Use and Custody of Raised Funds for 2025
To the shareholders of Duofudu New Materials Co., Ltd.:
We have audited the accompanying Special Report on the Use and Custody of Raised Funds for 2025 of Duofudu New Materials Co., Ltd. (hereinafter referred to as the "Company") (hereinafter referred to as the "Special Report on Raised Funds").
I. Responsibilities of the Board of Directors
The responsibility of the Company's Board of Directors is to prepare the Special Report on Raised Funds in accordance with the "Supervision Regulations for Raised Funds of Listed Companies" issued by the China Securities Regulatory Commission, the "Main Board Listed Company Self-Regulatory Guidelines No. 1 - Standardized Operation of Main Board Listed Companies" issued by the Shenzhen Stock Exchange, and relevant format guidelines, and to ensure that its content is true, accurate, and complete, without any false records, misleading statements, or material omissions.
II. Responsibilities of the Certified Public Accountants
Our responsibility is to express an assurance opinion on the Company's Special Report on Raised Funds based on the assurance work performed. We have performed the assurance engagement in accordance with the "Other Assurance Services Practice Standards for Certified Public Accountants No. 3101 - Assurance Engagements Other Than Audits or Reviews of Historical Financial Information." This standard requires us to comply with professional ethics, plan and perform the assurance engagement to obtain reasonable assurance about whether the Company's Special Report on Raised Funds is free from material misstatement.
During the assurance engagement, we performed procedures including obtaining information, inquiries, inspections, recalculations, and other procedures that we considered necessary. We believe that our assurance work provides a reasonable basis for our opinion.
III. Assurance Conclusion
We are of the opinion that the Company's Special Report on Raised Funds has been prepared in all material respects in accordance with the "Supervision Regulations for Raised Funds of Listed Companies" issued by the China Securities Regulatory Commission, the "Main Board Listed Company Self-Regulatory Guidelines No. 1 - Standardized Operation of Main Board Listed Companies" issued by the Shenzhen Stock Exchange, and relevant format guidelines, and fairly reflects in all material respects the Company's use and custody of raised funds for 2025.
IV. Limitation on the Users and Purpose of the Report
This report is intended solely for the purpose of disclosure in the Company's annual report and shall not be used for any other purpose. We agree that this report will be an integral part of the Company's annual report and will be submitted and disclosed along with other documents.
Zandar Certified Public Accountants LLP (Seal) China · Shenzhen
Certified Public Accountant: Wang Jianhua Certified Public Accountant: Niu Fengqun
April 14, 2025
Duofudu New Materials Co., Ltd. 2025 Annual Report Special Report on the Use and Custody of Raised Funds
Duofudu New Materials Co., Ltd. Special Report on the Use and Custody of Raised Funds for 2025
I. Basic Situation of Raised Funds
(I) Basic Situation of Raised Funds from Private Placement in 2021
According to the "Approval for the Non-public Offering of Shares" (Document No. [2021]313) issued by the China Securities Regulatory Commission, Duofudu New Materials Co., Ltd. (hereinafter referred to as the "Company") issued 69,277,108 shares of RMB common stock (A shares) through a private placement to specific investors, underwritten by China Fortune Securities Co., Ltd. on April 13, 2021. The par value per share is RMB 1, and the issue price per share is RMB 16.60. As of April 28, 2021, the Company had raised a total of RMB 1,149,999,992.80 in cash, and after deducting issuance-related expenses of RMB 8,618,634.26, the net amount of raised funds was RMB 1,141,381,358.54.