Guosen Securities Co., Ltd.
Regarding
Guangdong Piano Home Furnishing Co., Ltd.
Report on Change of Equity
Financial Advisor's Verification Opinion
(Revised Draft)
[Chart: Guosen Securities Logo]
(16th to 26th Floors, Guosen Securities Building, 1012 Hongling Middle Road, Luohu District, Shenzhen)
July 2026
Statement
In accordance with the Company Law of the People's Republic of China, the Securities Law of the People's Republic of China, the Administrative Measures for the Takeover of Listed Companies, the Standards for the Contents and Formats of Information Disclosure by Companies Offering Securities to the Public No. 15 — Report on Change of Equity, and the Standards for the Contents and Formats of Information Disclosure by Companies Offering Securities to the Public No. 16 — Report on the Takeover of Listed Companies, Guosen Securities Co., Ltd. (hereinafter referred to as "the Financial Advisor") has, in accordance with industry-recognized business standards and ethical norms, and in the spirit of honesty, trustworthiness, and diligence, verified the relevant circumstances and materials of this change of equity and issued this verification opinion on the contents disclosed in the "Report on Change of Equity of Guangdong Piano Home Furnishing Co., Ltd."
The Financial Advisor hereby makes the following statements:
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The relevant materials relied upon by the Financial Advisor are provided by the information disclosure obligor. The information disclosure obligor has made a statement guaranteeing that all provided materials are true, accurate, and complete original written documents or copies, that copies or photocopies are consistent with the originals, and that all signatures and seals on the documents are authentic. All documents and materials contain no false records, misleading statements, or major omissions, and the obligor assumes individual and joint legal liability for the truthfulness, accuracy, and completeness of the provided information.
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The Financial Advisor has performed its due diligence obligations in accordance with regulations and has sufficient reason to believe that the professional opinions expressed do not have any substantive differences from the contents of the documents filed by the information disclosure obligor.
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The Financial Advisor has verified the announcement documents of the information disclosure obligor and is satisfied that the content and format of the announcement documents comply with regulations.
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The professional opinion issued by the Financial Advisor regarding this change of equity has been submitted to and approved by the internal review committee.
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The Financial Advisor specifically reminds investors that this verification opinion does not constitute any investment advice to the parties involved in this change of equity or their affiliates; the Financial Advisor assumes no responsibility for any risks arising from investment decisions made by investors based on this verification opinion.
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The matters described in this verification opinion do not represent a substantive judgment, confirmation, or approval by authorized agencies regarding the matters related to this transaction.
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The Financial Advisor specifically reminds the relevant subjects of this transaction and investors to carefully read the Report on Change of Equity issued by the information disclosure obligor and the relevant announcements issued by the parties involved in this change of equity.
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The Financial Advisor has no affiliation with any of the parties involved in this change of equity, and the verification opinion issued regarding this Report on Change of Equity is conducted completely independently.
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During the period of acting as the financial advisor, the Financial Advisor has implemented strict confidentiality measures and internal firewall systems.
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