Special Explanation on the Occupation of Funds by Controlling Shareholders and Other Related Parties
Dahua Certified Public Accountants (Special General Partnership)
Nanjing Hanrui Cobalt Co., Ltd.
To all shareholders of Nanjing Hanrui Cobalt Co., Ltd.:
We have been entrusted to audit the financial statements of Nanjing Hanrui Cobalt Co., Ltd. (hereinafter referred to as Hanrui Cobalt) for the year 2025, 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, and consolidated and parent company statements of changes in equity, along with the notes to the financial statements. We issued an unqualified audit report (Dahua Audit Report [2026] No. 0011007049) on April 15, 2026.