Verification Opinion of CITIC Securities Co., Ltd. on the Fundraising Management of Shanghai Zhaomin New Materials Technology Co., Ltd. for 2025
CITIC Securities Co., Ltd. (hereinafter referred to as "CITIC Securities" or "the Sponsor") is the continuous supervision sponsor for the initial public offering and listing of Shanghai Zhaomin New Materials Technology Co., Ltd. (hereinafter referred to as "Zhaomin Technology" or "the Company"). On December 22, 2025, CITIC Securities signed a sponsorship agreement with the Company, taking over the ongoing fundraising supervision work from the previous sponsor, Guotai Junan Securities Co., Ltd. (formerly Haitong Securities Co., Ltd., hereinafter referred to as "Guotai Junan").
In accordance with the "Regulations on the Management of Sponsorship for Securities Issuance and Listing," "Regulations on the Supervision of Fundraising by Listed Companies," "Shenzhen Stock Exchange Rules for the Listing of Stocks on the Growth Enterprise Market," "Self-Regulatory Guidelines No. 2 for Listed Companies on the Shenzhen Stock Exchange - Standardized Operations of Growth Enterprise Market Listed Companies," and "Self-Regulatory Guidelines No. 13 for Listed Companies on the Shenzhen Stock Exchange - Sponsorship Business," as well as other relevant laws and regulations, a special verification was conducted regarding the storage, management, and use of the Company's fundraising for 2025. The specific situation is as follows:
1. Basic Situation of Fundraising and Usage
(1) Actual Amount Raised and Fund Arrival Time
According to the China Securities Regulatory Commission's approval document (Zheng Jian Xu Ke [2021] No. 1357), the Company publicly issued 13,333,500 shares of ordinary shares (A shares) at a price of RMB 64.31 per share on the Shenzhen Stock Exchange in May 2021, raising a total of RMB 857,477,385.00. After deducting underwriting and sponsorship fees of RMB 55,581,160.38, the remaining amount was RMB 801,896,224.62. Additionally, after deducting intermediary fees and other issuance expenses of RMB 19,660,070.49, the actual net amount raised was RMB 782,236,154.13. The funds were received on May 25, 2021, and the arrival of the funds was verified by Tianzhi International Accounting Firm (Special General Partnership), which issued verification report Tian Zhi Ye Zi [2021] No. 30822 on May 25, 2021.
(2) Amount Used This Year and Year-End Balance
As of December 31, 2025, the actual net amount raised by the Company was RMB 782,236,154.13, with a cumulative usage of RMB 759,954,809.60, including RMB 635,476,639.04 used in previous years and RMB 124,478,170.56 used this year, all invested in fundraising projects. As of December 31, 2025, the balance in the special account for fundraising was RMB 62,548,940.45, of which the net amount from interest income and financial management income was RMB 40,267,595.92. The specific situation is as follows:
| Project | Amount |
|---|---|
| Net amount raised | 782,236,154.13 |
| Less: Cumulative investment of fundraising | 759,954,809.60 |
| - Construction project of automotive precision injection parts, automotive electronic water pumps, and thermal management module components | 61,101,223.02 |
| - Replacement project of production and testing equipment at the Shanghai production base | 81,489,122.65 |
| - New construction project for the annual production of 800 million sets of new energy vehicle components and ultra-precision engineering plastic components (Phase I) | 229,254,170.56 |
| - Supplementing working capital project | 100,000,019.77 |
| - Use of excess fundraising to supplement working capital | 288,110,273.60 |
| Less: Bank fees | 8,126.52 |
| Add: Interest income and financial management income | 40,275,722.44 |
| Balance of fundraising as of December 31, 2025 | 62,548,940.45 |
| - Purchase of financial products | - |
| Balance in special fundraising account | 62,548,940.45 |