DaHua Certified Public Accountants (Special General Partnership)
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Special Verification Report on the Regulatory Inquiry Letter Regarding the 2025 Annual Report of Easyhome New Retail Group Corporation Limited
DaHua He Zi [2026] No. 0011007456
To: Management Department of Listed Companies, Shenzhen Stock Exchange:
We have received the "Inquiry Letter Regarding the 2025 Annual Report of Easyhome New Retail Group Corporation Limited" (Annual Report Inquiry Letter [2026] No. 252, hereinafter referred to as the "Inquiry Letter") forwarded by Easyhome New Retail Group Corporation Limited (hereinafter referred to as the "Company" or "Easyhome"). We have prudently verified the issues mentioned in the Inquiry Letter and report as follows:
- The annual report shows that the Company completed the execution of its reorganization plan during the reporting period. According to the reorganization plan, the Company implemented a capital reserve conversion into shares at a ratio of 12.68 shares for every 10 shares, totaling 531,868,204 shares. As of December 29, 2025, the aforementioned 531,868,204 converted shares have all been registered to the special account for the disposal of bankruptcy enterprise assets opened by the administrator. Upon completion of the reorganization, the Company's controlling shareholder changed to Beijing Huazhu Technology Co., Ltd., and the actual controller changed to Zhang Jianhua. During the reporting period, the Company recognized debt restructuring gains of 385 million yuan and other payables (reorganization debts) of 474 million yuan.
Please explain:
(1) Combining the process of bankruptcy reorganization, terms and conditions, and execution status, explain the specific formation process and details of each large-amount debt restructuring gain (including but not limited to the determination of debt book value, valuation methods and basis for the fair value of equity instruments, detailed calculation process and basis for restructuring gains, etc.), and whether the relevant accounting treatment complies with the relevant provisions of the "Accounting Standards for Business Enterprises."
- Process, Terms and Conditions, and Execution Status of Bankruptcy Reorganization
(1) Reorganization Process
On October 16, 2024, a creditor applied to the Beijing First Intermediate People's Court (hereinafter referred to as the "Beijing First Intermediate Court") for the Company's reorganization and the initiation of pre-reorganization proceedings on the grounds that the Company could not pay off its due debts and clearly lacked the ability to pay, but still had reorganization value.
On October 18, 2024, the Company received the "Decision" [(2024) Jing 01 Po Shen No. 1179] served by the Beijing First Intermediate Court, which decided to initiate pre-reorganization for the Company. On November 5, 2024, the Company received the "Decision" [(2024) Jing 01 Po Shen No. 1179-1] served by the Beijing First Intermediate Court, which appointed Beijing Dacheng Law Offices as the temporary administrator during the Company's pre-reorganization period.
On November 19, 2025, the Company received the "Civil Ruling" [(2024) Jing 01 Po Shen No. 1179] and the "Decision" [(2025) Jing 01 Po No. 501] served by the Beijing First Intermediate Court, which ruled to accept the reorganization application filed by the creditor Beijing Pengyuan Xingda Trading Co., Ltd. against the Company and appointed Beijing Dacheng Law Offices as the Company's administrator (hereinafter referred to as the "Administrator").
On December 19, 2025, the Company's capital contributor group meeting voted to pass the "Plan for Adjustment of Rights and Interests of Capital Contributors in the Reorganization Plan (Draft) of Easyhome New Retail Group Corporation Limited."
On December 21, 2025, the Company's first creditors' meeting voted to pass the "Reorganization Plan (Draft) of Easyhome New Retail Group Corporation Limited" and the "Plan for Convening and Voting Forms of Subsequent Creditors' Meetings of Easyhome New Retail Group Corporation Limited."