Huatai United Securities Co., Ltd. Special Audit Report on the Custody, Management, and Use of Raised Funds of Puni Testing Group Co., Ltd. in 2025

Huatai United Securities Co., Ltd.

Special Audit Report on the Custody, Management, and Use of Raised Funds of Puni Testing Group Co., Ltd. in 2025

Huatai United Securities Co., Ltd. (hereinafter referred to as "Huatai United") is the sponsor institution for Puni Testing Group Co., Ltd. (hereinafter referred to as "Puni Testing," "the Company," or "the Issuer") issuing shares to specific objects. In accordance with the "Administrative Measures for Securities Issuance and Underwriting," "Supervision Rules for Listed Company Raised Funds," "Shenzhen Stock Exchange GEM Stock Listing Rules," and "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 2 - Standardized Operation of GEM Listed Companies," and other laws and regulations, Huatai United has audited the custody, management, and use of Puni Testing's raised funds in 2025. The audit findings are as follows:

I. Basic Situation of Raised Funds

(I) Situation of Raised Funds Received

As approved by the China Securities Regulatory Commission's "Approval for Puni Testing Group Co., Ltd. to Issue Shares to Specific Objects" (Zhengjian Permit [2022] No. 210), Puni Testing issued no more than 41,106,171 new shares to raise funds for the Puni Testing Group Shandong Headquarters Building and R&D Center Project, Puni Northwest Headquarters Building (Xi'an) Project, and supplementary working capital. The Company actually issued 22,418,670 ordinary shares of RMB ordinary shares at an issue price of RMB 55.30 per share, raising a total of RMB 1,239,752,451.00. After deducting the underwriting and sponsorship fees (including tax) of RMB 11,518,019.61, the actual amount received was RMB 1,228,234,431.39. The underwriting and sponsorship fees and other expenses for this issuance of shares to specific objects totaled RMB 11,908,483.18 (excluding VAT), resulting in net raised funds of RMB 1,227,843,967.82. Lixin Certified Public Accountants (Special General Partnership) audited the receipt of funds for this issuance of shares to specific objects on March 23, 2022, and issued the "Puni Testing Group Co., Ltd. Capital Verification Report" (Xin Cai Shi Bao Zi [2022] No. ZG10297). The Company has managed the raised funds through a special account and signed a "Three-Party Supervision Agreement for Raised Funds" with the bank where the special account is opened and the sponsor institution, Huatai United Securities Co., Ltd. The content of the three-party supervision agreement does not significantly differ from the template for three-party supervision agreements of the Shenzhen Stock Exchange.

(II) Use of Raised Funds in 2025

As of the end of the previous year, the Company had cumulatively used RMB 743,489,666.94 of raised funds. The net amount of interest income from bank deposits of raised funds after deducting bank fees in the previous year was RMB 46,548,912.54. From January to December 2025, RMB 45,458,769.32 of raised funds were actually used. The net amount of interest income from bank deposits of raised funds after deducting bank fees from January to December 2025 was RMB 8,131,995.16. As of December 31, 2025, the balance of raised funds was RMB 493,966,902.83 (including the cumulative net interest income from bank deposits after deducting bank fees). Of this, the balance of deposits in the raised fund special account was RMB 276,966,902.83, and the amount used for cash management of idle raised funds was RMB 217,000,000.00, with no pledge or guarantee.