Verification Opinion
CITIC Securities Co., Ltd. (hereinafter referred to as CITIC Securities or the Sponsor) acted as the sponsor for Wuxi XianDao Intelligent Equipment Co., Ltd. (hereinafter referred to as XianDao Intelligent or the Company) during its public issuance of convertible bonds in 2019 and the issuance of shares to specific targets in 2020. In accordance with the relevant laws, regulations, and normative documents, CITIC Securities has conducted a prudent review of the fundraising storage and usage situation for 2025. The review opinions are as follows:
1. Basic Situation of Fundraising
(1) Amount and Timing of Fundraising
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Fundraising from the Public Issuance of Convertible Bonds in 2019
- Approved by the China Securities Regulatory Commission on November 29, 2019, the Company publicly issued convertible bonds with a total face value of RMB 1 billion, with a term of 6 years. The total amount raised was RMB 1,000,000,000.00. The underwriting fees amounted to RMB 9,000,000.00, and other issuance costs totaled RMB 1,731,367.34. The net amount raised after deducting the non-taxable underwriting fees and other issuance costs was RMB 989,873,727.00. The funds were fully received by December 17, 2019, verified by Tianzhi International Accounting Firm (Special General Partnership), which issued verification report Tianzhi Yezi [2019] No. 38412.
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Fundraising from the Issuance of Shares to Specific Targets in 2020
- According to the approval from the China Securities Regulatory Commission on June 16, 2021, the Company issued 111,856,823 shares at a price of RMB 22.35 per share, raising a total of RMB 2,499,999,994.05. The underwriting fees were RMB 10,000,000.00, and other issuance costs totaled RMB 3,077,356.10. The net amount raised after deducting the non-taxable underwriting fees and other issuance costs was RMB 2,487,660,654.00. The funds were fully received by June 10, 2021, verified by Tianzhi International Accounting Firm (Special General Partnership), which issued verification report Tianzhi Yezi [2021] No. 33267.
(2) Usage and Balance of Fundraising
- Usage of Funds Raised from the Public Issuance of Convertible Bonds by December 31, 2025: