Sinolink Securities Co., Ltd. (hereinafter referred to as the "Sponsor"), as the continuous guidance sponsor for the issuance of convertible corporate bonds by Qingdao Guanzhong Ecology Co., Ltd. (hereinafter referred to as "Guanzhong Ecology" or the "Company") to unspecified targets, has conducted a verification of the Company's termination of certain fund-raising projects and the permanent replenishment of working capital with remaining proceeds, in accordance with the "Administrative Measures for the Sponsorship of Securities Issuance and Listing," the "Rules Governing the Listing of Stocks on the ChiNext Market of the Shenzhen Stock Exchange," the "Guidelines No. 2 for Self-Regulation of Listed Companies on the ChiNext Market - Standardized Operation," and the "Regulatory Rules for the Use of Proceeds by Listed Companies." The details are as follows:
I. Basic Information on Proceeds
Following the approval by the China Securities Regulatory Commission in the "Reply on Approving the Registration of Qingdao Guanzhong Ecology Co., Ltd.'s Issuance of Convertible Corporate Bonds to Unspecified Targets" (Zheng Jian Xu Ke [2023] No. 1384), the Company issued 4,000,000 convertible bonds to unspecified targets on July 21, 2023, with a par value of 100 RMB per bond. The total proceeds amounted to 400,000,000 RMB. After deducting issuance expenses (excluding VAT) of 8,500,943.39 RMB, the actual net proceeds were 391,499,056.61 RMB. Zhongxinghua Certified Public Accountants (Special General Partnership) verified the arrival of the proceeds on July 27, 2023, and issued the "Verification Report on Proceeds from the Issuance of Convertible Corporate Bonds to Unspecified Targets by Qingdao Guanzhong Ecology Co., Ltd." (Zhongxinghua Yan Zi (2023) No. 030023). The Company manages the proceeds through a special account and has signed a "Tripartite Regulatory Agreement for Proceeds" with the opening bank and the Sponsor.
II. Use of Proceeds
As of June 11, 2026, the usage of proceeds for the Company's convertible bond-funded projects is as follows:
Unit: 10,000 RMB
| Project Name | Committed Investment Amount | Adjusted Total Investment | Accumulated Proceeds Invested | Unused Proceeds Balance |
|---|---|---|---|---|
| Jianshui County Historical Abandoned Mine Ecological Restoration Project (EPC) | 14,000.00 | 14,000.00 | 5,767.94 | 8,756.75 |
| Gaoqing County Rural Greenway Network Project | 10,000.00 | 1,839.05 | 1,839.05 | 0.00 |
| Boshan District Rural Water Supply Improvement and Reconstruction Project (Continued) EPC - Other Engineering Lot 1 | 0.00 | 8,506.31 | 3,982.01 | 4,557.13 |
| Zibo Sibaoshan Area Ecological Construction Comprehensive Management Project - Water Ecological Restoration Project | 3,000.00 | 585.87 | 585.87 | 0.00 |
| Leping Abandoned Mine Ecological Restoration Comprehensive Management Project (Phase I) | 1,000.00 | 1,000.00 | 1,007.88 | 0.08 |
| Working Capital Replenishment | 12,000.00 | 11,149.91 | 11,306.69 | 0.00 |
| Total | 40,000.00 | 37,081.14 | 24,489.44 | 13,313.96 |