2025 Annual Audit Report

Audit Report

Zhongxinghua Certified Public Accountants LLP
Address: 20th Floor, Tower B, Lize SOHO, 20 Lize Road, Fengtai District, Beijing, PR China
Postal Code: 100073
Phone: (010) 51423818
Fax: (010) 51423816

Table of Contents

1. Audit Report
2. Accompanying Documents
   1. Consolidated Balance Sheet
   2. Consolidated Income Statement
   3. Consolidated Cash Flow Statement
   4. Consolidated Statement of Changes in Equity
   5. Parent Company Balance Sheet
   6. Parent Company Income Statement
   7. Parent Company Cash Flow Statement
   8. Parent Company Statement of Changes in Equity
   9. Notes to Financial Statements
3. Attachments to the Audit Report
   1. Copy of Business License of Zhongxinghua Certified Public Accountants LLP
   2. Copy of Practice Certificate of Zhongxinghua Certified Public Accountants LLP
   3. Copy of Certified Public Accountant Practice Certificate

Audit Opinion

Audit Report No. ZHONGXINGHUA Audit (2026) No. 00010897
To all shareholders of Beijing Beixin Yuan Software Co., Ltd.:

1. Qualified Opinion
   We have audited the financial statements of Beijing Beixin Yuan Software Co., Ltd. (hereinafter referred to as "Beixin Yuan"), including the consolidated and parent company balance sheets as of December 31, 2025, the consolidated and parent company income statements, consolidated and parent company cash flow statements, consolidated and parent company statements of changes in equity, and related notes to the financial statements. We believe that, except for the effects of the matters described in the "Basis for Qualified Opinion" section, the accompanying financial statements present fairly, in all material respects, the financial position of Beixin Yuan as of December 31, 2025, and its financial performance and cash flows for the year then ended in accordance with the Accounting Standards for Business Enterprises.

2. Basis for Qualified Opinion

   1. As described in Note 5, Note 7 of the financial statements, as of December 31, 2025, Beixin Yuan reported goods to be delivered to customers under inventory - goods issued and inventory - goods in stock amounting to RMB 113,375,452.81. Due to confidentiality and other reasons, we were unable to perform inventory observation procedures, confirmation procedures, and could not perform confirmation or interviews with certain customers and suppliers. Therefore, we could not obtain sufficient and appropriate audit evidence regarding the quantity, specifications, and amounts of these goods, nor could we determine whether adjustments to these amounts were necessary.
   2. As described in Note 5, Note 9, and Note 30 of the financial statements, as of December 31, 2025, the value-added tax input tax reported under other current assets was RMB 6,621,768.12, and the value-added tax output tax reported under other current liabilities was RMB 103,845,324.85, which are significant amounts. During the audit, we were unable to obtain sufficient and appropriate audit evidence regarding the accuracy of these VAT amounts. We conducted the audit in accordance with the auditing standards for certified public accountants in China. The "Responsibilities of the Auditor for the Audit of Financial Statements" section of the audit report further elaborates on our responsibilities under these standards. In accordance with the independence standards for certified public accountants and the code of ethics for certified public accountants in China, we are independent of Beixin Yuan and have fulfilled our other ethical responsibilities. We believe that the audit evidence we obtained is sufficient and appropriate to provide a basis for our qualified opinion.