Northern Asia Asset Appraisal Co., Ltd.
"Reply to Inquiry Letter on Asset Appraisal Issues Regarding Shenzhen Yingtang Intelligent Control Co., Ltd.'s Application for Issuing Shares and Paying Cash to Acquire Assets and Raise Supporting Funds"
Shenzhen Stock Exchange:
On June 1, 2026, Shenzhen Yingtang Intelligent Control Co., Ltd. (hereinafter referred to as "Yingtang Intelligent Control," "the Company," or "the Listed Company") received the "Inquiry Letter Regarding Shenzhen Yingtang Intelligent Control Co., Ltd.'s Application for Issuing Shares and Paying Cash to Acquire Assets and Raise Supporting Funds" (Inquiry Letter [2026] No. 030008) (hereinafter referred to as the "Inquiry Letter") issued by your esteemed exchange. Northern Asia Asset Appraisal Co., Ltd. organized its appraisal project team to conduct a thorough investigation into the issues raised in the Inquiry Letter and hereby submits this verification opinion on asset appraisal-related issues:
Issue One: Based on the business scope, products, application fields, main customers, and suppliers of Guanglong Group and its subsidiaries, prudently demonstrate and supplement disclosure on whether there is any direct competition or competitive business between Guanglong Integration or the Listed Company after the transaction, the reasonableness of not classifying relevant business models as competitive, the projected scale of relevant business models after the transaction and their impact on Guanglong Integration's operating performance and valuation, and the specific measures and feasibility of Guanglong Group ceasing relevant business models.
(I) Business Scope, Products, Application Fields, Main Customers, and Suppliers of Guanglong Group and its Subsidiaries
During the reporting period, the business scope, products, application fields, main customers, and suppliers of Guanglong Group and its main subsidiaries are as follows:
| No. | Related Enterprise | Main Business | Main Products/Services | Application Fields | Reporting Period Top 5 Customers | Reporting Period Top 5 Suppliers |
|---|---|---|---|---|---|---|
| 1 | Guanglong Group | R&D, production, and sales of optical communication devices | Optical chips series, passive optical components, and various types of optical communication devices | Network security, AI computing, security equipment, laser medical, laser radar | *** | *** |
| 2 | Guanglong Optics | R&D, production of optical fiber components, optical fiber transmission equipment, and data communication network equipment | Optical components (optical isolators, optical assemblies) | Network security, AI computing, security equipment, laser medical, laser radar, etc. | *** | *** |
| 3 | Guangdian Optics | Design, packaging, testing, production, sales, and technical services of chips and related products in the optical communication and information technology fields | Sealing, testing, optical module manufacturing | *** | *** | |
| 4 | Guilin Leiguang Technology Co., Ltd. | R&D, production, and sales of optical communication semiconductor laser chipsets | Optical communication semiconductor laser chipsets | Optical communication base stations, sensors | *** | *** |
| 5 | Guilin Xincheng Technology Co., Ltd. | R&D of information security software; manufacturing of information security equipment; sales of information security equipment; communication equipment sales | PD/APD and non-communication chips, optical bypass equipment - platform system assembly | Optical communication base stations, sensors | *** | *** |
| 6 | Wuhan Guangrui Technology Co., Ltd. | Manufacturing of optical communication equipment, sales of optical communication equipment, sales of communication equipment | Sealing | Optical module manufacturing | *** | *** |
| 7 | Hong Kong Huiji New Materials Co., Ltd. | R&D, production, and sales of optical chips, optical passive and active components, and optical materials | Faraday rotators | Network security, AI computing, security equipment, laser medical, laser radar, etc. | *** | *** |
| 8 | Hunan Xincheng Circuits Co., Ltd. | New material technology promotion services; R&D and production of integrated circuit chips and related products; sales of integrated circuit chips and optoelectronic components; manufacturing of optoelectronic components; sales of optoelectronic components | Integrated circuit chips, optoelectronic components | AI computing centers, data centers, testing and sensing | - | - |