Huilin Securities' Review Opinion on Joint Investment and Related Party Transaction of Junyi Digital

Huilin Securities Co., Ltd.

Regarding the Review Opinion on the Joint Investment and Related Party Transaction of Sichuan Junyi Digital Technology Co., Ltd. with Professional Institutions and Related Parties

Huilin Securities Co., Ltd. (hereinafter referred to as "Huilin Securities" or "the Company") hereby issues the following review opinion on the joint investment by Sichuan Junyi Digital Technology Co., Ltd. (hereinafter referred to as "Junyi Digital" or "the Company") and related parties with professional institutions.

I. Overview of the Joint Investment and Related Party Transaction

(I) Overview of the Joint Investment and Related Party Transaction

As part of the strategic layout for industrial digitalization, the Company, in conjunction with its investment in intelligent robots and other fields, signed an agreement with Jiaxing Kaixing Investment Partnership (Limited Partnership) (hereinafter referred to as "Kaixing Investment") on July 17, 2026, to jointly invest in Kaixing Investment. The total investment amount is RMB 300 million, with the Company contributing 12.00%.

This investment is conducive to the Company's long-term development. The relevant management department of the Company will be responsible for subsequent matters, including but not limited to the signing of all transaction-related documents.

(II) Related Party Transaction

On July 17, 2026, the Company's Fourth Board of Directors held its first special meeting to review the matter. The meeting was attended by 7 directors, with 7 votes in favor, 0 against, and 0 abstentions. The results of the vote have been reviewed and approved by the relevant professional institutions and related parties.

According to the "Shenzhen Stock Exchange GEM Stock Listing Rules" and relevant regulations, the related party transaction is not considered a major asset restructuring. The transaction is subject to the approval of the board of directors and does not require approval from the shareholders' meeting.

II. Basic Information of Both Parties to the Transaction

(I) Professional Investment Institution, General Partner, Fund Manager, and Executing Partner

1. Company Name: Shenzhen Kaiyixing Private Equity Investment Fund Management Co., Ltd. (hereinafter referred to as "Kaiyixing Private Equity")

2. Establishment Time: August 2, 2024

3. Registered Address: Room 12, 1st Floor, Office Building, No. 1, Meishan Salt Field, Meishan Street, Beicai District, Ningbo City, Zhejiang Province, Postal Code 3559

4. Unified Social Credit Code: 91330206MA7DCWU648

5. Enterprise Type: Limited Partnership Enterprise

6. Registered Capital: RMB 10,000,000

7. Executing Partner: Ningbo Kaiyixing Hengtai Investment Management Co., Ltd.

8. Business Scope: General items: Enterprise management; enterprise management consulting; information consulting services (excluding licensed information consulting services) (except for projects subject to approval according to law, business activities can be carried out independently based on the business license).

9. Main Investment Areas: Focusing on investment in embodied intelligence, robotics, and other fields.

10. Fund Manager Qualification: Kaiyixing Private Equity has been registered as a private fund manager with the Asset Management Association of China, with registration code P1074879.

11. Whether a Dishonest Person Subject to Enforcement: No

12. Explanation of Related Party Relationship: Kaiyixing Private Equity has no related party relationship or interest arrangement with the Company. It has no related party relationship or interest arrangement with the Company's controlling shareholder, actual controller, shareholders holding more than 5% of the shares, directors, or senior management. It has no concerted action relationship with other investors participating in the establishment of the investment fund, and does not directly or indirectly hold shares in the listed company.

(II) Limited Partners and Related Parties

1. Zeng Lijun

ID Number: 1101081972********

Explanation of Relationship or Other Interest: Mr. Zeng Lijun is the Chairman and General Manager of the Company.

Whether a Dishonest Person Subject to Enforcement: No

1. Zhang Zhirui

ID Number: 5101031972********

Explanation of Relationship or Other Interest: Mr. Zhang Zhirui is a Director and Deputy General Manager of the Company.