Guolian MinSheng Securities Underwriting and Sponsorship Co., Ltd. Audit Opinion on Guangdong Guangshen New Energy Technology Co., Ltd. and its Subsidiaries' Use of Idle Own Funds for Cash Management
Guolian MinSheng Securities Underwriting and Sponsorship Co., Ltd. (hereinafter referred to as "Guolian MinSheng Securities" or "the Sponsor") is the sponsor of Guangdong Guangshen New Energy Technology Co., Ltd. (hereinafter referred to as "Guangshen New Energy" or "the Company") for its private placement of shares through simplified procedures. In accordance with the "Administrative Measures for Securities Issuance and Listing Sponsorship Business," "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 2 - Normative Operation of GEM Listed Companies," and the "Shenzhen Stock Exchange Stock Listing Rules," among other relevant regulations, we have audited the matter of Guangshen New Energy and its subsidiaries using idle own funds for cash management. The specific situation and audit opinion are as follows:
I. Basic Situation of Using Idle Own Funds for Cash Management
(I) Purpose of Cash Management To improve the efficiency of working capital utilization and reasonably utilize funds without affecting the Company's normal business operations, the Company and its subsidiaries plan to use idle own funds for cash management, purchasing wealth management products with a risk level no higher than R2, in order to increase the Company's income and maximize shareholder benefits.
(II) Cash Management Quota The Company and its subsidiaries plan to use a maximum of RMB 500 million of idle own funds for cash management. Funds within this maximum amount can be used on a rolling basis.
(III) Cash Management Investment Products To control risks, the Company and its subsidiaries plan to purchase wealth management products with a risk level no higher than R2.
(IV) Investment Term The term of each investment product shall not exceed one year.