Legal Opinion
Main Text
I. Signing of the Original "Concerted Action Agreement" and Expiration, and Signing of the New "Concerted Action Agreement"
1.1. Signing of the Original "Concerted Action Agreement"
In October 2018, Zheng Licheng, Yang Wei, Zhao Guoquan, Zheng Xiaojun, and Ye Jianyang jointly signed the "Concerted Action Agreement," stipulating that the parties and their controlled enterprises would maintain full consistency in exercising their proposal rights to the board of directors/shareholders' meeting and their voting rights at relevant board meetings/shareholders' meetings.
After the original agreement expired, the parties voluntarily agreed to continue the concerted action relationship established by the original agreement, and signed the "Concerted Action Agreement" on June 17, 2024, and June 17, 2025, respectively.
1.2. Expiration of the Original "Concerted Action Agreement"
According to the "Concerted Action Agreement" signed on June 17, 2025, the agreement became effective upon signing by all parties and had a term of one year. Therefore, the original "Concerted Action Agreement" expired on June 17, 2026.
1.3. Signing of the New "Concerted Action Agreement"
Given that Zheng Xiaojun no longer holds a director position in the company and has withdrawn from the company's actual management and operations, making it difficult for him to continue fulfilling his duties as a concerted party in major decision-making, in order to adapt to changes and improve the company's decision-making efficiency, Zheng Licheng, Yang Wei, Zhao Guoquan, Zheng Xiaojun, and Ye Jianyang unanimously agreed that Zheng Xiaojun would withdraw from the concerted action effective from the expiration date of the "Concerted Action Agreement."
On June 17, 2026, Zheng Licheng, Yang Wei, Zhao Guoquan, and Ye Jianyang signed a new "Concerted Action Agreement," the main contents of which are as follows:
"As of the signing date of this agreement, Zheng Licheng, Yang Wei, Zhao Guoquan, and Ye Jianyang directly hold 16,079,112 shares, 12,633,587 shares, 12,059,334 shares, and 5,742,540 shares of Jinwo Precision Technology Co., Ltd., respectively. Quzhou Chengwei Enterprise Management Co., Ltd. (in which Zheng Licheng holds 56% and Yang Wei holds 44%) holds 2,103,494 shares of Jinwo Precision Technology Co., Ltd. Quzhou Tongwo Investment Management Partnership (Limited Partnership) (in which Zheng Licheng holds a 14.04% partnership interest and serves as the general partner) holds 6,380,599 shares of Jinwo Precision Technology Co., Ltd.
The parties to this agreement voluntarily agree to maintain concerted action in exercising their shareholder or director rights, individually and through their controlled enterprises, with respect to Jinwo Precision Technology Co., Ltd.
After negotiation, the parties have reached an agreement on concerted action matters as follows, to be jointly observed:
Article 1: The parties agree to take concerted action during the term of this agreement and undertake to strictly abide by and fulfill the obligations and responsibilities of concerted parties as stipulated by relevant laws, administrative regulations, and normative documents.
Article 2: The method for the parties to take concerted action is as follows: the parties and their controlled enterprises shall maintain full consistency when exercising proposal rights to the board of directors/shareholders' meeting of Jinwo Precision Technology Co., Ltd. and voting rights at relevant board meetings/shareholders' meetings.