Independent Financial Advisor Report
Table of Contents
- Main Contents of the Incentive Plan
(1) Source of Shares and Number of Equity Interests
(2) Incentive Participants and Equity Allocation
(3) Grant Price and Pricing Basis
(4) Validity Period, Grant Date, Unlocking Arrangements, and Restriction Provisions
(5) Grant Conditions and Unlocking Conditions
(6) Other Contents of the Incentive Plan
- Verification Opinions of the Independent Financial Advisor
(1) Verification Opinion on the Feasibility of Implementing the Equity Incentive Plan
(2) Verification Opinion on the Accounting Treatment of Implementing the Equity Incentive Plan
(3) Verification Opinion on the Assessment System of the Equity Incentive Plan
(4) Verification Opinion on the Impact of Implementing the Equity Incentive Plan on the Company's Sustainable Operation Capability and Shareholder Equity
(5) Verification Opinion on Whether the Implementation of the Equity Incentive Plan Harms the Interests of the Company and Shareholders
- Reference Information
(1) Reference Documents
(2) Reference Locations
Definitions
In this report, unless the context otherwise requires, the following terms have the following meanings:
| Term | Definition |
|---|---|
| Rendong Holdings, Company | Rendong Holdings Group Co., Ltd. (Stock Abbreviation: Rendong Holdings; Stock Code: 002647) |
| This Incentive Plan | Rendong Holdings Group Co., Ltd. 2026 Restricted Stock Incentive Plan |
| Equity Incentive Plan (Draft) | Rendong Holdings Group Co., Ltd. 2026 Restricted Stock Incentive Plan (Draft) |
| Independent Financial Advisor Report, This Report | Beijing Bestar Securities Investment Consulting Co., Ltd. Independent Financial Advisor Report on the 2026 Restricted Stock Incentive Plan (Draft) of Rendong Holdings Group Co., Ltd. |
| Restricted Stock | Company shares granted under this plan, subject to restrictions on transfer and other rights |
| Incentive Participants | Participants in this incentive plan |
| Grant Price | The price per restricted share granted to participants under this plan |
| Grant Date | The date on which the company grants restricted shares to participants; must be a trading day |
| Restriction Period | The period during which restricted shares granted to participants may not be transferred, pledged, or used for debt repayment |
| Unlocking Period | The period during which restricted shares granted to participants may be unlocked and listed for trading |
| Unlocking Conditions | Conditions that must be met for the restricted shares granted to participants to be unlocked |
| Company Law | Company Law of the People's Republic of China |
| Securities Law | Securities Law of the People's Republic of China |
| Administrative Measures | Administrative Measures on Equity Incentives of Listed Companies |
| Self-Regulatory Guidelines | Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 1 - Business Handling |
| Articles of Association | Articles of Association of Rendong Holdings Group Co., Ltd. |
| CSRC | China Securities Regulatory Commission |
| SZSE | Shenzhen Stock Exchange |
| This Independent Financial Advisor, Bestar Securities | Beijing Bestar Securities Investment Consulting Co., Ltd. |
| Yuan, Ten Thousand Yuan, Hundred Million Yuan | Renminbi Yuan, Ten Thousand Yuan, Hundred Million Yuan |
Statement
Bestar Securities has accepted the mandate to act as the independent financial advisor for this incentive plan and to issue this report. The independent financial advisor hereby declares:
(1) This report is prepared in accordance with the Company Law, Securities Law, Administrative Measures, Self-Regulatory Guidelines, and other relevant regulations, based on materials and information provided by the company. The company guarantees that the provided materials and information are true, accurate, and complete, without false records, misleading statements, or major omissions.