Zhejiang Six and Law Firm Legal Opinion on Zhejiang Wanliyang Co., Ltd.'s 2025 Annual General Meeting Zhejiang Six and Law (2026) No. 0961
To: Zhejiang Wanliyang Co., Ltd.
Pursuant to the "Securities Law of the People's Republic of China" (hereinafter referred to as the "Securities Law"), the "Company Law of the People's Republic of China" (hereinafter referred to as the "Company Law"), the "Rules for Shareholders' Meetings of Listed Companies," and other laws, regulations, and normative documents, as well as the "Articles of Association of Zhejiang Wanliyang Co., Ltd." (hereinafter referred to as the "Articles of Association"), Zhejiang Six and Law Firm was entrusted by Zhejiang Wanliyang Co., Ltd. (hereinafter referred to as the "Company") to send lawyers Zhang Qi and Gao Meijuan (hereinafter referred to as "Six and Lawyers") to attend the Company's 2025 Annual General Meeting. This legal opinion is issued to witness the relevant matters of this shareholders' meeting and to review the convening and holding procedures, the qualifications of attendees, the qualifications of the convener, the voting procedures, and the validity of the voting results of this shareholders' meeting.
This legal opinion is issued by Six and Lawyers based on their understanding of the facts of this shareholders' meeting and their understanding of the current laws, regulations, and normative documents in China.
Six and Lawyers agree to make this legal opinion available as a statutory document for the shareholders' meeting and shall bear legal responsibility for the legal opinion issued.
In accordance with the requirements of Chinese laws and the generally accepted professional standards, ethical norms, and diligence spirit of the legal profession, Six and Lawyers provide the following opinions on the convening, holding, and other related legal issues of the Company's 2025 Annual General Meeting:
I. Regarding the Convening and Holding Procedures of the Shareholders' Meeting
(I) Convening of the Shareholders' Meeting
According to the 13th meeting of the 6th Board of Directors of the Company, the Company published the "Notice of the 2025 Annual General Meeting of Zhejiang Wanliyang Co., Ltd." on the "Securities Times," "Securities Daily," "China Securities Journal," and the Juchao Information Network (http://www.cninfo.com.cn) on April 21, 2026. The Board of Directors notified all shareholders of the Company 20 days in advance regarding the time, place, convener, method of convening, share registration date, matters to be deliberated, and registration procedures for the shareholders' meeting.
(II) Holding of the Shareholders' Meeting
This shareholders' meeting was held through a combination of on-site voting and online voting.
The shareholders' meeting was held on May 11, 2026 (Monday) at 13:30 in the second-floor conference room of Zhejiang Wanliyang Co., Ltd., located at No. 3999, Binjiang West Road, Jinhua City, Zhejiang Province. According to the "Articles of Association," the meeting was presided over by Mr. Huang Heqing, Chairman of the Company.
Online voting for this shareholders' meeting was conducted through the Shanghai Stock Exchange trading system and the internet voting system. The time for online voting through the Shanghai Stock Exchange trading system was from 9:15-9:25, 9:30-11:30, and 13:00-15:00 on May 11, 2026. The time for online voting through the Shanghai Stock Exchange internet voting system was any time between 9:15 and 15:00 on May 11, 2026.
Upon verification, the shareholders' meeting was convened by the Board of Directors. The Board of Directors issued the meeting notice within the time limit stipulated by the "Company Law," the "Rules of Procedure for Shareholders' Meetings of Zhejiang Wanliyang Co., Ltd." (hereinafter referred to as the "Rules of Procedure for Shareholders' Meetings"), and the "Articles of Association." The time, place, and method of convening the meeting were consistent with the notice, and the matters to be deliberated were consistent with the notice.