Audit Report
RSM|Rongcheng
Rongcheng Certified Public Accountants (Special General Partnership)
Head Office: Floors 1001-1 to 1001-26, Building 1, No. 22 Fuchengmenwai Avenue, Xicheng District, Beijing (100037)
TEL: 010-6600 1391 FAX: 010-6600 1392
E-mail: bj@rsmchina.com.cn
Rongcheng Shen Zi [2026] No. 518Z1919
To the Shareholders of Ningbo Qixiang Information Technology Co., Ltd.:
I. Audit Opinion
We have audited the financial statements of Ningbo Qixiang Information Technology Co., Ltd. (hereinafter referred to as "Ningbo Qixiang"), which comprise the consolidated and parent company balance sheets as of December 31, 2025, and June 30, 2026, the consolidated and parent company income statements for the year ended December 31, 2025, and the period from January 1 to June 30, 2026, the consolidated and parent company statements of cash flows, the consolidated and parent company statements of changes in owners' equity, and related notes to the financial statements.
In our opinion, the accompanying financial statements, in all material respects, are prepared in accordance with the requirements of the enterprise accounting standards and fairly present the consolidated and parent company financial position of Ningbo Qixiang as of December 31, 2025, and June 30, 2026, and the consolidated and parent company results of operations and cash flows for the year ended December 31, 2025, and the period from January 1 to June 30, 2026.
II. Basis for Audit Opinion
We conducted our audit in accordance with the Chinese Certified Public Accountants' Auditing Standards. Our responsibilities under those standards are further described in the "Responsibilities of the Registered Accountant for the Audit of Financial Statements" section of our report. We are independent of Ningbo Qixiang in accordance with the Code of Professional Ethics for Chinese Certified Public Accountants and the independence requirements of Chinese Certified Public Accountants, and we have fulfilled our other ethical responsibilities in accordance with the Code of Professional Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
III. Management's and Governance's Responsibilities for the Financial Statements
The management of Ningbo Qixiang (hereinafter referred to as "Management") is responsible for preparing the financial statements in accordance with the requirements of the enterprise accounting standards so that they fairly present the financial position, results of operations, and cash flows, and for designing, implementing, and maintaining internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, Management is responsible for assessing Ningbo Qixiang's ability to continue as a going concern, disclosing, as applicable, matters related to going concern, and preparing the financial statements on the going concern basis, unless Management either intends to liquidate Ningbo Qixiang or to cease operations, or has no realistic alternative but to do so.
The governance structure is responsible for overseeing Ningbo Qixiang's financial reporting process.
IV. Responsibilities of the Registered Accountant for the Audit of Financial Statements
Our objective is to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with auditing standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
In the process of conducting an audit in accordance with auditing standards, we exercise professional judgment and maintain professional skepticism. At the same time, we also perform the following work: