Guojin Securities Co., Ltd. (hereinafter referred to as "Guojin Securities") acted as the sponsor for Zhongjing Food Co., Ltd. (hereinafter referred to as "Zhongjing Food" or "the Company") during its initial public offering and listing on the Growth Enterprise Market (GEM). In accordance with relevant laws and regulations, including the "Regulations on the Management of Securities Issuance and Listing Sponsorship," the "Listing Rules for GEM Stocks of the Shenzhen Stock Exchange," and the "Self-Regulatory Guidelines for Listed Companies No. 2 - Standardized Operations of GEM Listed Companies," Guojin Securities conducted a verification of the storage and usage of funds raised by the Company for the year 2025. The verification results are as follows:
1. Basic Information on the Raised Funds
(1) Amount and Receipt of Raised Funds
With the approval of the China Securities Regulatory Commission (CSRC) regarding the registration of Zhongjing Food's initial public offering (CSRC Permit [2020] No. 2392), the Company publicly issued 25 million shares of RMB ordinary shares (A shares) at a price of RMB 39.74 per share, with a par value of RMB 1 per share. The total amount raised was RMB 993,500,000.00, and after deducting issuance-related expenses (excluding VAT) of RMB 80,753,367.37, the actual net amount raised was RMB 912,746,632.63. The raised funds were deposited into the Company's special account for raised funds on November 17, 2020, and Zhongtianyun Accounting Firm (Special General Partnership) verified the receipt of funds, issuing Verification Report No. 90066.
(2) Usage and Balance of Raised Funds
As of December 31, 2025, the usage and balance of the raised funds are as follows:
| Item | Amount (RMB) |
|---|---|
| Total amount of raised funds | 993,500,000.00 |
| Less: Issuance-related expenses | 80,753,367.33 |
| Amount invested in previous years | 766,810,219.43 |
| Amount directly invested in this period | 11,854,221.56 |
| Permanent supplement to working capital | 126,000,000.00 |
| Remaining funds from completed projects | 58,088,755.19 |
| Plus: Investment income and net interest income | 50,006,563.51 |
| Balance of raised funds as of December 31, 2025 | 0.00 |
2. Storage and Management of Raised Funds
(1) Management of Raised Funds
To standardize the management and use of raised funds and protect investors' rights, the Company formulated the "Management System for Raised Funds of Zhongjing Food Co., Ltd." (hereinafter referred to as "Management System for Raised Funds") in accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," the "Regulations on the Supervision of Raised Funds by Listed Companies," and the "Self-Regulatory Guidelines for Listed Companies No. 2 - Standardized Operations of GEM Listed Companies," combined with the Company's actual situation. The Management System clearly stipulates the special account storage, usage, changes in investment projects, management, and supervision of the raised funds. According to the Management System, the Company's fifth board of directors approved the establishment of a special account for raised funds and authorized the legal representative of the Company to sign the "Tripartite Supervision Agreement for Raised Funds." On November 30, 2020, the Company signed the "Tripartite Supervision Agreement for Raised Funds" with the Nanyang Branch of Bank of Communications Co., Ltd., the Xixia Branch of Bank of China Co., Ltd., the Zhengzhou Branch of CITIC Bank Co., Ltd., and the sponsor Guojin Securities, clarifying the rights and obligations of all parties.
On December 29, 2020, the Company held the fifth board of directors' fifth meeting and the fourth meeting of the board of supervisors, and on January 14, 2021, held the first extraordinary general meeting of shareholders in 2021, approving the "Proposal on Adjusting Some Fundraising Projects and Increasing Investment Amounts for Some Overraised Funds." The specific content can be found in the announcement disclosed by the Company on the Giant Tide Information Network (Announcement No.: 2020-015). Due to adjustments made to some fundraising projects, on January 15, 2021, the Company signed a supplementary tripartite supervision agreement with the Xixia Branch of Bank of China Co., Ltd., the Zhengzhou Branch of CITIC Bank Co., Ltd., and the sponsor Guojin Securities.