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Huatai United Securities Co., Ltd. Audit Report on Beijing Yuxin Technology Group Co., Ltd.'s Use of Own Funds to Pay for Part of the Raised Fund Investment Projects and Equivalent Replacement with Raised Funds

Yusys Technologies Co., Ltd.··5 pages

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Huatai United Securities audited Beijing Yuxin Technology's use of own funds for raised fund investment projects, with subsequent replacement by raised funds. This procedure aims to streamline payments for personnel costs and taxes, avoiding direct use of the raised fund account. The process was approved by the Audit Committee and the Board of Directors, with no adverse impact on project implementation or shareholder interests.

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Huatai United Securities Co., Ltd. Audit Report on Beijing Yuxin Technology Group Co., Ltd.'s Use of Own Funds to Pay for Part of the Raised Fund Investment Projects and Equivalent Replacement with Raised Funds

Huatai United Securities Co., Ltd. (hereinafter referred to as "Huatai United Securities" or "Sponsor") as the sponsor of Beijing Yuxin Technology Group Co., Ltd. (hereinafter referred to as "Yuxin Technology" or "the Company") for its issuance of shares to specific objects, in accordance with the "Administrative Measures for Securities Issuance and Underwriting Sponsorship Business", "Supervision Rules for Listed Company Raised Funds", "Shenzhen Stock Exchange GEM Stock Listing Rules", "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 2 - Standardized Operation of GEM Listed Companies", "Shenzhen Stock Exchange Listed Company Self-Regulatory Guidelines No. 13 - Sponsorship Business" and other laws and regulations, has audited the matter of Yuxin Technology adjusting the internal investment structure of its raised fund investment projects. The specific audit situation is as follows:

I. Basic Situation of Raised Funds

With the approval of the China Securities Regulatory Commission's "Approval on the Registration of Beijing Yuxin Technology Group Co., Ltd.'s Issuance of Shares to Specific Objects" (Zhengjian Xuke [2021] No. 2809), the Company issued 50,452,488 ordinary shares (A shares) to specific objects, with a par value of RMB 1 per share and an issuance price of RMB 22.10 per share. The total raised funds amounted to RMB 1,114,999,984.80. After deducting issuance expenses of RMB 18,184,064.35, the net amount of raised funds was RMB 1,096,815,920.45. This raised fund was remitted to the Company's special account for raised funds by Huatai United Securities Co., Ltd. on January 14, 2022. Lixin Certified Public Accountants (Special General Partnership) audited the capital verification of the raised funds and issued an audit report (Xin Hui Shi Bao Zi [2022] No. ZB10014) on January 17, 2022.

The Company, together with the sponsor Huatai United Securities Co., Ltd., has signed "Tripartite Agreements for Raised Funds" with Shanghai Pudong Development Bank Co., Ltd. Hengqin Guangdong-Macao Deep Cooperation Zone Branch, Ping An Bank Co., Ltd. Beijing Fengtai Sub-branch, and China Minsheng Bank Co., Ltd. Beijing Branch to manage the deposit and use of raised funds.

II. Use of Raised Funds

As of March 31, 2026, the use of raised funds by the Company is as follows:

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