Review Opinion 1
Huatai United Securities Co., Ltd. on Kangping Technology (Suzhou) Co., Ltd.'s Use of Idle Raised Funds to Temporarily Supplement Working Capital
Huatai United Securities (hereinafter referred to as "Huatai United Securities" or "the Sponsor") is the sponsor for Kangping Technology (Suzhou) Co., Ltd. (hereinafter referred to as "Kangping Technology" or "the Company") during its initial public offering and continuous supervision phase. In accordance with relevant regulations, including the "Administrative Measures for Sponsoring Securities Issuance and Listing," "Regulations on the Supervision of Raised Funds by Listed Companies," "Shenzhen Stock Exchange Growth Enterprise Market Listing Rules," and "Self-Regulatory Guidelines No. 2 for Listed Companies on the Shenzhen Stock Exchange - Standardized Operations of Growth Enterprise Market Listed Companies," a prudent due diligence investigation was conducted regarding the Company's use of idle raised funds to temporarily supplement working capital. The specific review situation is as follows:
1. Basic Situation of Raised Funds
With the approval of the China Securities Regulatory Commission regarding the registration of Kangping Technology's initial public offering (Approval No. [2020] 2258), the Company issued 24 million shares of ordinary shares (A shares) at a price of RMB 14.30 per share, raising a total of RMB 343,200,000.00. After deducting non-taxable issuance expenses of RMB 51,396,484.19, the actual net raised funds amounted to RMB 291,803,515.82. The raised funds were in place on November 13, 2020, and the accounting firm Xinyong Zhonghe (Special General Partnership) verified the raised funds and issued a "Verification Report" (XYZH/2020NJAA20005). The raised funds have been deposited in a special account for raised funds, and a "Three/Four Party Supervision Agreement" has been signed with the sponsor and the commercial bank holding the raised funds.
2. Use of Raised Funds
According to the Company's "Prospectus for Initial Public Offering and Listing on the Growth Enterprise Market" and subsequent changes to the investment projects funded by the raised funds, as of December 31, 2025, the status of the Company's investment projects and the use of raised funds is as follows: