Introduction
This legal opinion is based on facts that occurred or existed prior to the issuance date of this opinion and the current effective laws, administrative regulations, and normative documents in China. It does not provide opinions on non-legal professional matters. Before issuing this legal opinion, Haichang New Materials has assured our lawyers that the materials provided are true, accurate, complete, and valid, and that all facts and documents that could affect this legal opinion have been disclosed without any concealment, falsehood, or misleading information. This legal opinion does not contain any false or seriously misleading statements or major omissions; otherwise, we are willing to bear corresponding legal responsibilities according to law. This legal opinion only expresses opinions on the legality and compliance of the initial grant of the incentive plan and related legal matters, without commenting on the value of the stocks involved in the incentive plan. This legal opinion is limited to the purpose of the related matters of the incentive plan and may not be used for any other purpose without our prior written consent. We agree to use this legal opinion as one of the necessary legal documents for the initial grant of the incentive plan, to be submitted and publicly disclosed along with other application materials, and we will bear legal responsibility for the opinions expressed herein. Our lawyers have conducted reasonable, necessary, and possible verification, validation, and discussion of the materials, documents, and relevant facts provided or disclosed by Haichang New Materials, as well as the legal issues involved, and have issued this legal opinion.