Important Statement
This report is prepared by Zheshang Securities Co., Ltd. (hereinafter referred to as "Zheshang Securities"), the trustee manager for this bond issuance, based on the "Management Measures for Convertible Corporate Bonds," "Management Measures for Corporate Bond Issuance and Trading," "Code of Conduct for Corporate Bond Trustees," and the "Trustee Management Agreement" regarding the convertible bonds of Zhejiang Zhengyuan Smart Technology Co., Ltd. (hereinafter referred to as "Zhengyuan Smart," "the issuer," or "the company"). The content and information in this report are sourced from materials or explanations provided by Zhengyuan Smart. This report does not constitute a recommendation for investors to take or refrain from any action; investors should make independent judgments regarding related matters and should not rely on any content in this report as commitments or statements made by Zheshang Securities.