Beijing DHH Law Firm
Regarding Jinlei Technology Co., Ltd.
2026 Annual Issuance of Shares to Specific Targets
Supplementary Legal Opinion (I)
DHH Securities Legal Opinion (2026) No. 00261
To: Jinlei Technology Co., Ltd.
Pursuant to the Project Legal Advisory Agreement signed between our firm and Jinlei Technology Co., Ltd., our firm has assigned lawyers to provide specialized legal services for the company's issuance of shares to specific targets. Based on 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 Registration of Securities Issuance by Listed Companies, and other relevant laws, regulations, and normative documents, we have previously issued the Beijing DHH Law Firm Legal Opinion on the 2026 Annual Issuance of Shares to Specific Targets by Jinlei Technology Co., Ltd. (DHH Securities Legal Opinion (2026) No. 00137, hereinafter referred to as the "Legal Opinion") and the Beijing DHH Law Firm Lawyer's Work Report on the 2026 Annual Issuance of Shares to Specific Targets by Jinlei Technology Co., Ltd. (DHH Securities Legal Opinion (2026) No. 00138, hereinafter referred to as the "Lawyer's Work Report").
On May 12, 2026, the Listing Review Center of the Shenzhen Stock Exchange issued the Audit Inquiry Letter on the Application of Jinlei Technology Co., Ltd. for Issuance of Shares to Specific Targets (Audit Letter [2026] No. 020038). Our lawyers have conducted further verification of the relevant facts of the issuer and the documents provided by the issuer, and hereby issue this supplementary legal opinion.
This supplementary legal opinion is an amendment and supplement to the Legal Opinion and the Lawyer's Work Report. In case of any inconsistency between the contents of the aforementioned documents and this supplementary legal opinion, this supplementary legal opinion shall prevail. Other contents of the aforementioned documents remain valid.
The premises, statements, and assumptions made by our lawyers in the Legal Opinion and the Lawyer's Work Report are equally applicable to this supplementary legal opinion.
Unless otherwise specified, the meanings of the abbreviations used in this supplementary legal opinion are the same as those used in the Legal Opinion and the Lawyer's Work Report.
In accordance with the requirements of the Securities Law and other relevant laws, regulations, and normative documents, our lawyers, in accordance with the recognized business standards, professional ethics, and the spirit of diligence and responsibility of the legal profession, have conducted sufficient verification of the authenticity, accuracy, and completeness of the documents upon which this supplementary legal opinion is based, and hereby issue this supplementary legal opinion.
Response to the Shenzhen Stock Exchange Audit Inquiry Letter
Question 1:
From 2023 to 2025, the company's operating income was 1,945.8478 million yuan, 1,967.3691 million yuan, and 2,489.4729 million yuan, respectively. The comprehensive gross profit margins were 33.04%, 21.33%, and 27.75%, and net profits were 411.7968 million yuan, 172.7293 million yuan, and 314.9011 million yuan, respectively. The company's overseas sales were 582.4503 million yuan, 628.1080 million yuan, and 641.0412 million yuan, accounting for 29.93%, 31.93%, and 25.75%, respectively. From 2023 to 2025, the net cash flow from operating activities was 392.5259 million yuan, 328.0562 million yuan, and -189.5985 million yuan, respectively.
From the end of 2023 to the end of 2025, notes receivable were 291.3781 million yuan, 252.0790 million yuan, and 357.5032 million yuan, respectively, and accounts receivable financing were 212.4067 million yuan, 229.9786 million yuan, and 484.4556 million yuan, respectively. The company collects payments through bank acceptance bills, commercial acceptance bills, and digital accounts receivable creditor's rights vouchers such as "Yunxin" and "Rongxin".