Oriental Securities Co., Ltd. Audit Opinion on the Custody and Use of Raised Funds by Mingyue Glasses Co., Ltd. in 2025
Oriental Securities Co., Ltd. (hereinafter referred to as "Oriental Securities" or "Sponsor") is the sponsor of Mingyue Glasses Co., Ltd. (hereinafter referred to as "Mingyue Glasses" or "the Company") for its initial public offering of stocks on the ChiNext Market. In accordance with the "Administrative Measures for the Sponsorship Business of Securities Issuance and Listing," the "ChiNext Market Stock Listing Rules of the Shenzhen Stock Exchange," and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 2 - Norms for the Operation of Listed Companies on the ChiNext Market," Oriental Securities has audited the custody and use of raised funds by Mingyue Glasses in 2025. The details of the audit are as follows:
I. Basic Situation of Raised Funds
(I) Amount of Raised Funds and Time of Receipt
With the approval of the China Securities Regulatory Commission (hereinafter referred to as "CSRC") in the "Approval on the Registration of Initial Public Offering of Stocks by Mingyue Glasses Co., Ltd." (Securities Regulatory License [2021] No. 3473), Mingyue Glasses was approved to issue 33.5854 million shares of RMB ordinary shares (A shares) with a par value of RMB 1 per share. The issue price was RMB 26.91 per share, and the total amount of raised funds was RMB 903,783,114.00. After deducting various issuance expenses, the net amount of raised funds was RMB 792,923,877.64. The receipt of these raised funds was audited by Lixin Certified Public Accountants (Special General Partnership), which issued the "Capital Verification Report" (Xin Hui Shi Bao Zi [2021] No. ZA15935) on December 13, 2021.
The Company has deposited the aforementioned raised funds into a special account for raised funds and has signed a "Supervision Agreement for Special Accounts of Raised Funds" with the sponsor and the commercial banks where the funds are deposited.
(II) Amount Used in 2025 and Year-End Balance
| Item | Amount (RMB) |
|---|---|
| Net amount of raised funds | 792,923,877.64 |
| Less: Accumulated amount of raised funds used | 421,844,607.11 |
- Amount used in previous years | 144,842,323.63
- Amount used in the reporting period | 42,610,059.49
- Permanent replenishment of working capital with part of surplus raised funds | 234,392,223.99 Add: Net amount of interest received from bank deposits and wealth management products after deducting bank fees | 64,827,090.59 Balance of raised funds as of December 31, 2025 | 435,906,361.12
Note: Of this amount, RMB 80,000,000 is in wealth management products that have not yet matured, and RMB 355,906,361.12 is in bank deposits.
II. Custody and Management of Raised Funds
(I) Management of Raised Funds
To standardize the management and use of raised funds and protect investor interests, the Company has formulated the "Management Measures for Raised Funds" (hereinafter referred to as the "Management Measures") in accordance with the requirements of the "Supervision Regulations for Listed Company Raised Funds," the "ChiNext Market Stock Listing Rules of the Shenzhen Stock Exchange," and the "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guide No. 2 - Norms for the Operation of Listed Companies on the ChiNext Market." These measures govern the special account storage, use, project implementation management, and changes in investment projects of raised funds.