China International Capital Corporation Limited Regarding Doron Precision Materials Co., Ltd. Special Audit Opinion on the Fund Raising and Use of Funds in 2025
China International Capital Corporation Limited (hereinafter referred to as "CICC" or "Sponsor") is the sponsor institution for Doron Precision Materials Co., Ltd. (hereinafter referred to as "Doron Precision" or "the Company"). Based on the "Administrative Measures for Securities Issuance and Listing Sponsorship", "Supervision Rules for Listed Company Fund Raising", "Shenzhen Stock Exchange Stock Listing Rules", "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 1 - Standardized Operation of Main Board Listed Companies", and other relevant laws, regulations, and normative documents, CICC has prudently audited the situation of fund raising and use of funds by Doron Precision in 2025. The audit findings and opinions are as follows:
I. Basic Situation of Fund Raising
(I) Basic Situation of Fund Raising from Private Placement in 2021
Approved by the China Securities Regulatory Commission's approval document "Approval for the Non-Public Offering of Shares of Doron Precision Materials Co., Ltd." (Zheng Jian Xu Ke [2021] No. 313), Doron Precision Materials Co., Ltd. issued 69,277,108 ordinary shares (A shares) to specific investors through a private placement underwritten by China Fortune Securities Co., Ltd. on April 13, 2021. Each share has a par value of RMB 1, and the issue price was RMB 16.60 per share. As of April 28, 2021, the Company raised a total of RMB 1,149,999,992.80 in cash. After deducting issuance-related expenses of RMB 8,618,634.26, the net amount of funds raised was RMB 1,141,381,358.54.
As of April 28, 2021, the funds raised by the Company through the aforementioned issuance were all in place, as verified by the capital verification report "Dahua Yan Zi [2021] No. 000298" issued by Dahua Certified Public Accountants (Special General Partnership).
As of December 31, 2025, the Company had cumulatively invested RMB 108,253.90 million in fund raising projects. Among them, the Company used its own funds to advance RMB 2,255.39 million before the fund raising funds were in place; and used RMB 105,998.51 million from the fund raising funds to supplement the funds for the projects (including RMB 34,000.00 million for permanent supplementary working capital) from May 13, 2021, to December 31, 2025. The accumulated interest on the fund raising account was RMB 636.22 million. No idle fund raising funds were temporarily used to supplement working capital. As of December 31, 2025, the balance of fund raising funds was RMB 6,520.46 million.
(II) Basic Situation of Fund Raising from Private Placement to Specific Objects in 2023
Approved by the China Securities Regulatory Commission's approval document (Zheng Jian Xu Ke [2022] No. 2962) "Approval for the Non-Public Offering of Shares of Doron Precision Materials Co., Ltd.", the Company issued 122,324,159 ordinary shares (A shares) to specific objects through a private placement underwritten by China International Capital Corporation Limited on August 7, 2023. Each share has a par value of RMB 1, and the issue price was RMB 16.35 per share. The total amount of funds raised was RMB 1,999,999,999.65. After deducting various tax-free issuance expenses totaling RMB 11,963,476.94, the net amount of funds raised was RMB 1,988,036,522.71.
As of August 11, 2023, the funds raised by the Company through the aforementioned issuance were all in place, as verified by the capital verification report "Dahua Yan Zi [2023] No. 000485" issued by Dahua Certified Public Accountants (Special General Partnership).